Investment

please explain how the weighted HPY is calculated?

EXHIBIT 1.1 Calculation of holding period yield for a portfolio Investment HPR Number Beginning Beginning of shares price market value Ending price Ending market value HPY % Market weight Weighted HPY A 100 000 10 1 000 000 12 1 200 000 1.20 20 0.05 0.01 B 200 000 20 4000000 21 4200 000 1.05 5 0.20 0.01 500 000 30 15 000 000 33 16500000 1.10 10 0.75 0.075 Total 20000 000 21 900 000 0.095 = 1 21900 000 20000 000 HPY = 1.095 - 1 = 0.095 = 9.5% Weights are based on beginning values