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I want to know how to calculate the fund return when interest rate increase? and how to compute QTD, YTD? The 3 questions in the
I want to know how to calculate the fund return when interest rate increase? and how to compute QTD, YTD? The 3 questions in the document, I don't know how to start.
COMM374: APPLIED FINANCIAL MARKETS (Term 2 2017) Team Assignment Performance Evaluation Team Assignment PIMCO Total Return Fund's Performance How to submit the assignment? This assignment will be marked. Submit one solution per a group of 2 or 3 students from the same section of the course. All solutions to all questions below shall be in one Excel file, including explanations we are asking you to write. Name the sheets in the Excel file so that it is easy to see all steps of your analysis and answers to the individual tasks below. E-mail the Excel file to Wenjie Chen (e-mail: wenjie.chen@sauder.ubc.ca) no later than 10pm on January 29, 2017. In the subject line of the e-mail, put "Assignment Comm374". In the body of the e-mail, put names of the group members, and their student numbers and course section numbers. Note that you must provide your group composition to the course TA (Wenjie Chen) at least 7 days before the assignment deadline (i.e., by January 22, 2017). This means that you must send an e-mail with the names of the group members, and their student numbers and course section numbers to the course TA 7 days before the assignment deadline. You must also list this information in the first sheet of the Excel file you will submit. It is the responsibility of each student to verify that the submitted group assignment has his/her name on it. If your name is missing from your team's Excel file or if your name appears on multiple Excel files, you will receive 0 marks for the assignment. Name the Excel file using the convention "Assignment01_???.xlsx", where "???" stands for your section number followed by the family name of the group member who is sending the e-mail. You must also CC all your group members when submitting the assignment by e-mail to the course TA. Make sure that the Excel file is no bigger than 5MB. The file shall not contain any unnecessary data or computations. The best assignments will provide accurate and informative statistics, presented in a userfriendly format, and will give useful economic interpretations of the findings. Points will be deducted if answers from two different teams look identical. -1- COMM374: APPLIED FINANCIAL MARKETS (Term 2 2017) Team Assignment Objective In this assignment, students will assess the performance of two well-known fixed-income mutual funds. To accomplish this goal, students will use multi-factor analysis using the most popular equity and bond indexes in the financial industry as benchmarks. Introduction Pacific Investment Management (PIMCO), one of the largest active global fixed income investment managers in the world with over $1.97 trillion in assets under management, announced in September 2014 that Bill Gross - one of their most important investment managers and co-founder nicknamed the \"Bond King\" - had decided to resign from the company he helped found in 1971. At PIMCO, Mr. Gross had become respected by managing the largest bond mutual fund in the world: the Total Return Bond fund (PTTRX 1). After resigning, Mr. Gross joined Janus Capital on September 26th, 2014. According to the Financial Times, \"Mr. Gross' sudden move to Janus Capital caps a tumultuous 12 months for him and PIMCO, which has been beset by poor performance and management.\" 2 In this assignment, students will evaluate whether PIMCO's performance - represented by the performance of the PTTRX fund - justifies the decision of firing Mr. Gross. Students' assessment of the fund will be based on absolute and relative performance analysis. 1 Lora Western, \"Bill Gross' Tenure at PIMCO: A Timeline\Date 1/31/1995 2/28/1995 3/31/1995 4/28/1995 5/31/1995 6/30/1995 7/31/1995 8/31/1995 9/29/1995 10/31/1995 11/30/1995 12/29/1995 1/31/1996 2/29/1996 3/29/1996 4/30/1996 5/31/1996 6/28/1996 7/31/1996 8/30/1996 9/30/1996 10/31/1996 11/29/1996 12/31/1996 1/31/1997 2/28/1997 3/31/1997 4/30/1997 5/30/1997 6/30/1997 7/31/1997 8/29/1997 9/30/1997 10/31/1997 11/28/1997 12/31/1997 1/30/1998 Pimco TCW Total Total S&P 500 10 yr. US Return Bond 1-month T bill Return Index govt bond Fund Fund (TGLMX) (PTTRX) 0.0180 0.0235 0.0095 0.0176 0.0317 -0.0005 0.0006 0.0155 0.0126 0.0153 0.0219 0.0059 0.0082 -0.0243 -0.0077 -0.0042 -0.0026 0.0161 0.0027 -0.0009 0.0230 0.0260 0.0238 -0.0124 0.0038 0.0023 -0.0120 0.0181 0.0103 0.0118 0.0280 -0.0086 0.0162 0.0121 0.0047 0.0120 0.0155 0.0243 0.0361 0.0273 0.0280 0.0363 0.0213 0.0318 -0.0003 0.0401 -0.0050 0.0410 0.0174 0.0326 0.0069 0.0079 0.0134 0.0229 0.0023 -0.0457 0.0188 0.0542 0.0261 0.0734 -0.0215 0.0613 0.0059 -0.0426 0.0584 0.0586 0.0435 0.0781 -0.0575 0.0532 -0.0345 0.0446 0.0157 0.0102 0.0229 0.0315 0.0050 0.0151 0.0559 0.0117 -0.0112 0.0150 0.0128 0.0161 0.0216 0.0187 0.0042 -0.0299 -0.0124 -0.0171 -0.0059 0.0165 0.0005 -0.0049 0.0228 0.0297 0.0247 -0.0212 -0.0001 -0.0021 -0.0171 0.0190 0.0112 0.0125 0.0403 -0.0203 0.0208 0.0248 0.0012 0.0148 0.0211 0.0132 0.0302 0.0078 0.0144 0.0452 0.0074 -0.0053 0.0097 0.0150 0.0180 0.0178 0.0182 0.0067 -0.0209 -0.0063 -0.0064 0.0032 0.0162 0.0011 -0.0011 0.0216 0.0254 0.0215 -0.0100 0.0014 0.0014 -0.0081 0.0153 0.0090 0.0163 0.0382 -0.0137 0.0223 0.0112 0.0102 0.0058 0.0102 0.0042 0.0040 0.0041 0.0045 0.0054 0.0047 0.0045 0.0046 0.0043 0.0047 0.0041 0.0049 0.0043 0.0039 0.0039 0.0046 0.0040 0.0040 0.0045 0.0041 0.0044 0.0042 0.0039 0.0044 0.0040 0.0038 0.0043 0.0043 0.0043 0.0037 0.0043 0.0041 0.0046 0.0039 0.0038 0.0046 0.0042 2/27/1998 3/31/1998 4/30/1998 5/29/1998 6/30/1998 7/31/1998 8/31/1998 9/30/1998 10/30/1998 11/30/1998 12/31/1998 1/29/1999 2/26/1999 3/31/1999 4/30/1999 5/28/1999 6/30/1999 7/30/1999 8/31/1999 9/30/1999 10/29/1999 11/30/1999 12/31/1999 1/31/2000 2/29/2000 3/31/2000 4/28/2000 5/31/2000 6/30/2000 7/31/2000 8/31/2000 9/29/2000 10/31/2000 11/30/2000 12/29/2000 1/31/2001 2/28/2001 3/30/2001 4/30/2001 5/31/2001 6/29/2001 7/31/2001 -0.0028 0.0034 0.0040 0.0117 0.0098 0.0034 0.0159 0.0301 -0.0066 0.0038 0.0061 0.0060 -0.0183 0.0086 0.0050 -0.0108 -0.0016 -0.0037 0.0008 0.0112 0.0034 0.0024 -0.0052 -0.0050 0.0124 0.0148 -0.0027 0.0000 0.0212 0.0093 0.0158 0.0038 0.0064 0.0197 0.0204 0.0147 0.0097 0.0041 -0.0092 0.0040 0.0027 0.0347 0.0704 0.0499 0.0091 -0.0188 0.0394 -0.0116 -0.1458 0.0624 0.0803 0.0591 0.0564 0.0410 -0.0323 0.0388 0.0379 -0.0250 0.0544 -0.0320 -0.0063 -0.0286 0.0625 0.0191 0.0578 -0.0509 -0.0201 0.0967 -0.0308 -0.0219 0.0239 -0.0163 0.0607 -0.0535 -0.0049 -0.0801 0.0041 0.0346 -0.0923 -0.0642 0.0768 0.0051 -0.0250 -0.0107 -0.0081 0.0020 0.0033 0.0101 0.0112 0.0004 0.0369 0.0527 -0.0103 -0.0062 0.0063 0.0033 -0.0440 0.0086 -0.0035 -0.0225 -0.0060 -0.0042 -0.0045 0.0119 -0.0061 -0.0066 -0.0124 -0.0098 0.0136 0.0348 -0.0100 0.0018 0.0221 0.0046 0.0166 -0.0013 0.0086 0.0256 0.0307 0.0042 0.0116 0.0028 -0.0274 0.0014 0.0022 0.0305 -0.0061 0.0072 0.0041 0.0124 0.0072 0.0015 0.0253 0.0137 -0.0171 0.0104 0.0020 0.0037 -0.0089 0.0080 0.0021 -0.0107 -0.0070 -0.0044 -0.0030 0.0115 -0.0067 0.0074 -0.0045 -0.0136 0.0115 0.0183 -0.0068 -0.0034 0.0253 0.0056 0.0214 0.0100 0.0088 0.0177 0.0283 0.0107 0.0106 0.0032 -0.0058 0.0080 0.0048 0.0208 0.0038 0.0045 0.0043 0.0038 0.0040 0.0039 0.0040 0.0039 0.0034 0.0032 0.0038 0.0035 0.0034 0.0041 0.0038 0.0035 0.0041 0.0037 0.0039 0.0037 0.0036 0.0038 0.0038 0.0043 0.0043 0.0044 0.0046 0.0048 0.0037 0.0048 0.0050 0.0051 0.0052 0.0050 0.0049 0.0052 0.0037 0.0043 0.0039 0.0032 0.0028 0.0030 8/31/2001 9/28/2001 10/31/2001 11/30/2001 12/31/2001 1/31/2002 2/28/2002 3/28/2002 4/30/2002 5/31/2002 6/28/2002 7/31/2002 8/30/2002 9/30/2002 10/31/2002 11/29/2002 12/31/2002 1/31/2003 2/28/2003 3/31/2003 4/30/2003 5/30/2003 6/30/2003 7/31/2003 8/29/2003 9/30/2003 10/31/2003 11/28/2003 12/31/2003 1/30/2004 2/27/2004 3/31/2004 4/30/2004 5/28/2004 6/30/2004 7/30/2004 8/31/2004 9/30/2004 10/29/2004 11/30/2004 12/31/2004 1/31/2005 0.0124 0.0166 0.0215 -0.0142 -0.0044 0.0124 0.0140 -0.0196 0.0221 0.0078 0.0026 0.0057 0.0168 0.0115 0.0000 0.0020 0.0225 0.0044 0.0142 0.0021 0.0115 0.0169 -0.0003 -0.0375 0.0085 0.0284 -0.0066 0.0023 0.0119 0.0067 0.0117 0.0084 -0.0228 -0.0036 0.0046 0.0107 0.0198 0.0017 0.0101 -0.0034 0.0071 0.0030 -0.0641 -0.0817 0.0181 0.0752 0.0076 -0.0156 -0.0208 0.0367 -0.0614 -0.0091 -0.0725 -0.0790 0.0049 -0.1100 0.0864 0.0571 -0.0603 -0.0274 -0.0170 0.0084 0.0810 0.0509 0.0113 0.0162 0.0179 -0.0119 0.0550 0.0071 0.0508 0.0173 0.0122 -0.0164 -0.0168 0.0121 0.0180 -0.0343 0.0023 0.0094 0.0140 0.0386 0.0325 -0.0253 0.0151 0.0226 0.0318 -0.0352 -0.0174 0.0046 0.0120 -0.0368 0.0294 0.0081 0.0216 0.0308 0.0302 0.0469 -0.0202 -0.0212 0.0360 -0.0083 0.0262 -0.0057 -0.0001 0.0425 -0.0091 -0.0668 0.0047 0.0468 -0.0244 0.0017 0.0103 0.0130 0.0175 0.0144 -0.0491 -0.0067 0.0101 0.0121 0.0322 0.0028 0.0111 -0.0177 0.0134 0.0094 0.0099 0.0182 0.0129 -0.0056 0.0032 0.0098 0.0129 -0.0128 0.0157 0.0000 0.0098 0.0169 0.0157 0.0111 0.0010 -0.0050 0.0116 -0.0020 0.0020 -0.0005 0.0056 0.0066 -0.0002 -0.0132 -0.0036 0.0192 -0.0049 0.0045 0.0068 0.0089 0.0099 0.0078 -0.0180 -0.0050 0.0030 0.0099 0.0194 0.0045 0.0076 -0.0070 0.0108 0.0050 0.0030 0.0027 0.0022 0.0017 0.0015 0.0014 0.0013 0.0013 0.0015 0.0014 0.0013 0.0015 0.0014 0.0014 0.0013 0.0012 0.0011 0.0009 0.0009 0.0010 0.0009 0.0009 0.0010 0.0007 0.0007 0.0009 0.0007 0.0007 0.0008 0.0007 0.0006 0.0008 0.0008 0.0006 0.0008 0.0009 0.0011 0.0012 0.0011 0.0015 0.0017 0.0017 2/28/2005 3/31/2005 4/29/2005 5/31/2005 6/30/2005 7/29/2005 8/31/2005 9/30/2005 10/31/2005 11/30/2005 12/30/2005 1/31/2006 2/28/2006 3/31/2006 4/28/2006 5/31/2006 6/30/2006 7/31/2006 8/31/2006 9/29/2006 10/31/2006 11/30/2006 12/29/2006 1/31/2007 2/28/2007 3/30/2007 4/30/2007 5/31/2007 6/29/2007 7/31/2007 8/31/2007 9/28/2007 10/31/2007 11/30/2007 12/31/2007 1/31/2008 2/29/2008 3/31/2008 4/30/2008 5/30/2008 6/30/2008 7/31/2008 -0.0037 -0.0022 0.0152 0.0115 0.0051 -0.0079 0.0136 -0.0104 -0.0089 0.0037 0.0102 0.0015 0.0035 -0.0101 0.0007 -0.0029 -0.0006 0.0156 0.0148 0.0080 0.0060 0.0118 -0.0083 -0.0020 0.0166 0.0025 0.0021 -0.0137 -0.0015 0.0120 0.0138 0.0195 0.0112 0.0237 0.0040 0.0331 0.0018 -0.0016 0.0042 -0.0085 -0.0087 0.0014 0.0189 -0.0191 -0.0201 0.0300 -0.0001 0.0360 -0.0112 0.0069 -0.0177 0.0352 -0.0010 0.0255 0.0005 0.0111 0.0122 -0.0309 0.0001 0.0051 0.0213 0.0246 0.0315 0.0165 0.0126 0.0141 -0.0218 0.0100 0.0433 0.0325 -0.0178 -0.0320 0.0129 0.0358 0.0148 -0.0440 -0.0086 -0.0612 -0.0348 -0.0060 0.0475 0.0107 -0.0860 -0.0099 -0.0131 -0.0045 0.0261 0.0184 0.0090 -0.0213 0.0208 -0.0183 -0.0119 0.0063 0.0112 -0.0046 0.0002 -0.0198 -0.0088 -0.0010 0.0031 0.0164 0.0216 0.0113 0.0071 0.0137 -0.0157 -0.0036 0.0200 -0.0022 0.0068 -0.0145 -0.0068 0.0239 0.0171 -0.0004 0.0131 0.0442 -0.0036 0.0384 0.0093 0.0113 -0.0164 -0.0188 0.0108 0.0052 -0.0033 -0.0054 0.0146 0.0092 0.0040 -0.0065 0.0129 -0.0065 -0.0034 0.0048 0.0085 -0.0002 0.0019 -0.0045 -0.0027 0.0025 0.0022 0.0114 0.0183 0.0085 0.0056 0.0109 -0.0018 0.0014 0.0148 0.0021 0.0032 -0.0074 -0.0064 0.0161 0.0085 0.0095 0.0095 0.0071 0.0061 0.0238 -0.0002 -0.0064 0.0011 -0.0042 0.0053 -0.0021 0.0016 0.0021 0.0021 0.0024 0.0023 0.0024 0.0029 0.0028 0.0027 0.0030 0.0032 0.0035 0.0033 0.0036 0.0036 0.0042 0.0040 0.0040 0.0043 0.0040 0.0041 0.0042 0.0040 0.0043 0.0038 0.0043 0.0043 0.0040 0.0039 0.0040 0.0042 0.0033 0.0032 0.0034 0.0029 0.0024 0.0013 0.0019 0.0010 0.0009 0.0018 0.0014 8/29/2008 9/30/2008 10/31/2008 11/28/2008 12/31/2008 1/30/2009 2/27/2009 3/31/2009 4/30/2009 5/29/2009 6/30/2009 7/31/2009 8/31/2009 9/30/2009 10/30/2009 11/30/2009 12/31/2009 1/29/2010 2/26/2010 3/31/2010 4/30/2010 5/28/2010 6/30/2010 7/30/2010 8/31/2010 9/30/2010 10/29/2010 11/30/2010 12/31/2010 1/31/2011 2/28/2011 3/31/2011 4/29/2011 5/31/2011 6/30/2011 7/29/2011 8/31/2011 9/30/2011 10/31/2011 11/30/2011 12/30/2011 1/31/2012 0.0100 -0.0318 -0.0089 0.0200 0.0388 0.0061 -0.0083 0.0173 0.0141 0.0257 0.0069 0.0225 0.0191 0.0176 0.0061 0.0125 -0.0086 0.0176 0.0051 0.0070 0.0082 -0.0002 0.0170 0.0151 0.0149 0.0077 0.0105 -0.0143 -0.0056 0.0029 0.0055 0.0029 0.0166 0.0056 -0.0036 0.0126 -0.0057 -0.0174 0.0141 -0.0090 0.0172 0.0258 0.0122 -0.0908 -0.1694 -0.0748 0.0078 -0.0857 -0.1099 0.0854 0.0939 0.0531 0.0002 0.0741 0.0336 0.0357 -0.0198 0.0574 0.0178 -0.0370 0.0285 0.0588 0.0148 -0.0820 -0.0539 0.0688 -0.0474 0.0876 0.0369 -0.0023 0.0653 0.0226 0.0320 -0.0010 0.0285 -0.0135 -0.0183 -0.0215 -0.0568 -0.0718 0.1077 -0.0051 0.0085 0.0436 0.0153 0.0009 -0.0286 0.0854 0.0569 -0.0445 -0.0019 0.0329 -0.0358 -0.0164 0.0029 0.0083 0.0101 0.0103 -0.0036 0.0190 -0.0379 0.0208 0.0020 -0.0140 0.0165 0.0253 0.0339 0.0079 0.0355 -0.0020 -0.0052 -0.0072 -0.0389 -0.0002 -0.0002 -0.0005 0.0145 0.0249 -0.0059 0.0311 0.0475 0.0295 -0.0121 0.0087 0.0190 0.0088 -0.0011 -0.0009 -0.0072 0.0144 -0.0110 0.0110 0.0025 0.0110 0.0297 0.0267 0.0124 0.0371 0.0248 0.0184 0.0197 0.0096 -0.0185 0.0190 -0.0007 0.0005 0.0208 0.0045 0.0154 0.0114 0.0172 0.0082 0.0112 0.0005 -0.0057 0.0126 0.0005 0.0015 0.0096 0.0086 -0.0055 0.0096 0.0066 0.0015 -0.0056 -0.0005 0.0019 0.0171 0.0013 0.0015 0.0008 0.0002 0.0000 0.0000 0.0001 0.0002 0.0001 0.0000 0.0001 0.0001 0.0001 0.0001 0.0000 0.0000 0.0001 0.0000 0.0000 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 0.0000 0.0000 0.0000 0.0001 0.0000 0.0000 0.0000 0.0000 0.0000 2/29/2012 3/30/2012 4/30/2012 5/31/2012 6/29/2012 7/31/2012 8/31/2012 9/28/2012 10/31/2012 11/30/2012 12/31/2012 1/31/2013 2/28/2013 3/28/2013 4/30/2013 5/31/2013 6/28/2013 7/31/2013 8/30/2013 9/30/2013 10/31/2013 11/29/2013 12/31/2013 1/31/2014 2/28/2014 3/31/2014 4/30/2014 5/30/2014 6/30/2014 7/31/2014 8/29/2014 9/30/2014 10/31/2014 11/28/2014 12/31/2014 1/31/2015 2/28/2015 3/31/2015 4/30/2015 5/31/2015 6/30/2015 7/31/2015 0.0025 0.0004 0.0147 0.0086 0.0045 0.0174 0.0048 0.0091 0.0037 0.0054 0.0025 -0.0027 0.0055 0.0033 0.0118 -0.0216 -0.0262 0.0049 -0.0108 0.0178 0.0093 0.0000 -0.0096 0.0135 0.0052 -0.0055 0.0074 0.0124 0.0037 -0.0052 0.0111 -0.0094 0.0081 0.0100 -0.0048 0.0264 -0.0071 0.0030 -0.0058 -0.0038 -0.0089 0.0122 0.0406 0.0313 -0.0075 -0.0627 0.0396 0.0126 0.0198 0.0242 -0.0198 0.0028 0.0071 0.0504 0.0111 0.0360 0.0181 0.0208 -0.0150 0.0495 -0.0313 0.0297 0.0446 0.0280 0.0236 -0.0356 0.0431 0.0069 0.0062 0.0210 0.0191 -0.0151 0.0377 -0.0155 0.0232 0.0245 -0.0042 -0.0310 0.0549 -0.0174 0.0085 0.0105 -0.0210 0.0197 -0.0106 -0.0195 0.0284 0.0314 -0.0066 0.0158 -0.0024 -0.0064 -0.0029 0.0094 -0.0088 -0.0149 0.0116 0.0038 0.0176 -0.0312 -0.0299 -0.0045 -0.0129 0.0179 0.0069 -0.0122 -0.0218 0.0357 0.0044 -0.0039 0.0084 0.0191 -0.0024 -0.0002 0.0188 -0.0106 0.0131 0.0142 0.0357 0.0168 0.0200 0.0194 0.0205 0.0212 0.0235 0.0220 0.0138 0.0076 0.0074 0.0061 0.0030 0.0223 0.0120 0.0198 0.0020 0.0063 0.0044 0.0052 0.0032 0.0029 0.0125 -0.0089 -0.0207 -0.0005 -0.0015 0.0136 0.0165 0.0000 -0.0049 0.0168 0.0012 -0.0028 0.0090 0.0118 0.0019 0.0009 0.0058 -0.0020 0.0067 0.0067 0.0009 0.0134 -0.0059 0.0056 -0.0012 -0.0002 -0.0070 0.0058 0.0000 0.0000 0.0000 0.0001 0.0000 0.0000 0.0001 0.0001 0.0000 0.0001 0.0001 0.0000 0.0001 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0001 0.0002 0.0005 0.0000 0.0001 0.0002 0.0004 8/31/2015 9/30/2015 10/31/2015 11/30/2015 12/31/2015 1/31/2016 2/29/2016 3/31/2016 4/30/2016 5/31/2016 6/30/2016 7/31/2016 8/31/2016 9/30/2016 10/31/2016 11/30/2016 -0.0082 -0.0046 0.0077 -0.0012 -0.0015 0.0101 -0.0066 0.0145 0.0044 0.0028 0.0135 0.0108 -0.0022 0.0038 -0.0055 -0.0282 -0.0626 -0.0264 0.0830 0.0005 -0.0175 -0.0507 -0.0041 0.0660 0.0027 0.0153 0.0009 0.0356 -0.0012 -0.0012 -0.0194 0.0342 0.0221 0.0206 0.0216 0.0221 0.0227 0.0194 0.0174 0.0178 0.0183 0.0184 0.0149 0.0146 0.0158 0.0160 0.0163 0.0237 -0.0001 0.0058 -0.0010 -0.0019 -0.0018 0.0148 0.0039 0.0019 0.0029 0.0010 0.0156 0.0060 -0.0007 0.0022 -0.0074 -0.0261 0.0000 0.0000 0.0001 0.0011 0.0014 0.0022 0.0023 0.0018 0.0016 0.0027 0.0020 0.0019 0.0026 0.0020 0.0025 0.0038 Monthly Data Pimco Total Return Fund S&P 500 Index Return 10 yr. US government bond TCW Total Return Bond Return 1 month T-BillStep by Step Solution
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