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You are given the the information below on a mutual fund. What is the dollar-weighted return? Year 1 Year 2 Year 3 Year 4 Asset

You are given the the information below on a mutual fund. What is the dollar-weighted return?

Year 1 Year 2 Year 3 Year 4
Asset under management at start of year (millions of $) 100.00 116.00 77.60 52.17
Holding-Period Return (% per year) 21.00 -15.00 -7.00 -6.00
Asset under management before flows (millions of $) 121.00 98.60 72.17 49.04
Net inflows (in millions of $) -5.00 -21.00 -20.00 -52.17
Asset under management at end of year (millions of $) 116.00 77.60 52.17 0.00

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