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Question 4 (5 points) You are given the the information below on a mutual fund. What is the dollar- weighted return? Year 1 Asset under

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Question 4 (5 points) You are given the the information below on a mutual fund. What is the dollar- weighted return? Year 1 Asset under management at start of year (millions of $) 100.00 Holding-Period Return (% per year) Asset under management before flows (millions of $) 121.00 Net inflows (in millions of $) Asset under management at end of year (mixions of $) 116.00 Year 2 116.00 -15.00 98.60 Year 3 77.60 -7.00 72.17 -20.00 52.17 Year 4 52.17 -6.00 21.00 49.04 -5.00 -21.00 77.60 -52.17 0.00 0.57% per year 2.57% per year -0.57% per year -2.57% per year

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