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Tom Stovall is a portfolio manager who tracks the Wilshire 5000 Index. He received a large cash inflow from a client prior to a bull market. Which of the following most accurately characterizes the relationship for the time-weighted return and the money-weighted return for Tom? The time-weighted return will be: A. inflated by the timing of the cash inflow and the time-weighted return will be larger than the money-weighted return. B. unaffected by the timing of the cash inflow and the time-weighted return will be smaller than the money-weighted return. C. unaffected by the timing of the cash inflow and the time-weighted return will be larger than the money-weighted return. |