The Bigco pension plan has invested in dozens of VC funds. The director of the pension plan is preparing his annual report to the Bigco board of directors. Summary information for Bigco's VC portfolio is given in Exhibit 3-9 of the book. The board has asked for a five-year report of net returns and gross returns by year, plus the compound returns and annualized returns for all five years. You can assume that all new investments and management fees were paid for at beginning of the year, and all distributions were paid at the end of the year. BIGCO PENSION PI.AN. VC PORTFOIIO