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Consider the following cash flows in an investment fund: Date 1 Jan., 2018 31 May, 2018 30 Jun., 2018 1 Aug., 2018 1 Sept., 2018

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Consider the following cash flows in an investment fund: Date 1 Jan., 2018 31 May, 2018 30 Jun., 2018 1 Aug., 2018 1 Sept., 2018 31 Dec., 2018 Deposit Withdrawal Balance 410,000 50,000 465,000 20,000 510,000 30,000 490,000 10,000 520,000 10,000 520,000 Based on the time-weighted calculation, compute the annual TWRR of the fund in 2018

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