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| 2 |
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| 3 |
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TWRR |
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| 4 |
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| 5 |
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Category: |
Real Estate |
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| 6 |
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Family: |
UK Valuation DCF |
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| 7 |
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Arguments: |
FromDate_s, ToDate_s, Dates, CapVals,
[NetIncomes], [CapExps], [CapRecs], [TWRRSwitch], [TWRROptions] |
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| 8 |
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Meaning: |
Time-Weighted Rate of Return |
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| 9 |
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Description: |
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| 10 |
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Option Extra outputs |
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| 11 |
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Detailed Return Breakdown |
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| 12 |
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Capital Return |
Common Usage |
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| 13 |
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Dates |
CapValues |
NetIncomes |
CapExps |
CapRecs |
Total Return |
Index |
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| 14 |
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5% |
5% |
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10 |
21 |
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FromDates |
ToDates |
TWRR |
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| 15 |
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1
Jan 06 |
200.00 |
2.50 |
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1.00 |
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1
Jan 06 |
1 Jan 07 |
10.35%
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| 16 |
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1 Feb 2006 |
200.81 |
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0.41%
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1.00 |
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1 Jan 07 |
1 Jan 08 |
10.35%
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| 17 |
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1 Mar 2006 |
201.63 |
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0.41%
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1.01 |
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1 Jan 08 |
1 Jan 09 |
10.35%
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| 18 |
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1 Apr 2006 |
202.45 |
2.53 |
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1.66%
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1.01 |
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1 Jan 09 |
1 Jan 10 |
10.35%
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| 19 |
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1 May 2006 |
203.28 |
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0.41%
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1.02 |
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1 Jan 10 |
1 Jan 11 |
10.35%
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| 20 |
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1 Jun 2006 |
204.11 |
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0.41%
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1.02 |
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| 21 |
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1 Jul 2006 |
204.94 |
2.56 |
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1.66%
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1.02 |
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| 22 |
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1 Aug 2006 |
205.77 |
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0.41%
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1.03 |
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| 23 |
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1 Sep 2006 |
206.61 |
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0.41%
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1.03 |
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| 24 |
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1 Oct 2006 |
207.45 |
2.59 |
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1.66%
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1.04 |
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| 25 |
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1 Nov 2006 |
208.30 |
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0.41%
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1.04 |
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Much more efficient - as an array function: |
| 26 |
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1 Dec 2006 |
209.15 |
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0.41%
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1.05 |
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| 27 |
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1 Jan 2007 |
210.00
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2.63 |
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1.66%
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1.05 |
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<Same Dates> |
10.35%
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1 Feb 2007 |
210.86 |
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0.41%
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1.05 |
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10.35%
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1 Mar 2007 |
211.71 |
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0.41%
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1.06 |
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10.35%
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1 Apr 2007 |
212.58 |
2.66 |
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1.66%
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1.06 |
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10.35%
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1 May 2007 |
213.44 |
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0.41%
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1.07 |
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10.35%
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| 32 |
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1 Jun 2007 |
214.31 |
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0.41%
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1.07 |
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| 33 |
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1 Jul 2007 |
215.19 |
2.69 |
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1.66%
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1.08 |
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| 34 |
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1 Aug 2007 |
216.06 |
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0.41%
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1.08 |
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More unusual examples: |
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| 35 |
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1 Sep 2007 |
216.94 |
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0.41%
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1.08 |
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| 36 |
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1 Oct 2007 |
217.83 |
2.72 |
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1.66%
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1.09 |
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Longer period: |
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| 37 |
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1 Nov 2007 |
218.71 |
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0.41%
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1.09 |
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LongHand |
| 38 |
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1 Dec 2007 |
219.61 |
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0.41%
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1.10 |
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1 Jan 06 |
1 Jan 11 |
63.62%
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63.62% |
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1 Jan 2008 |
220.50
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2.76 |
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1.66%
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1.10 |
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1 Feb 2008 |
221.40 |
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0.41%
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1.11 |
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| 41 |
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1 Mar 2008 |
222.30 |
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0.41%
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1.11 |
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Partial Periods: |
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| 42 |
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1 Apr 2008 |
223.21 |
2.79 |
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1.66%
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1.12 |
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| 43 |
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1 May 2008 |
224.12 |
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0.41%
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1.12 |
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1
Jan 06 |
16 Jan 06 |
0.21%
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| 44 |
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1 Jun 2008 |
225.03 |
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0.41%
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1.13 |
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16 Jan 06 |
1 Feb 06 |
0.21%
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| 45 |
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1 Jul 2008 |
225.95 |
2.82 |
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1.66%
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1.13 |
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1 Feb 06 |
1 Jan 07 |
9.90%
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| 46 |
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1 Aug 2008 |
226.87 |
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0.41%
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1.13 |
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10.32%
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| 47 |
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1 Sep 2008 |
227.79 |
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0.41%
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1.14 |
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| 48 |
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1 Oct 2008 |
228.72 |
2.86 |
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1.66%
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1.14 |
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Note that where the return is split up |
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| 49 |
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1 Nov 2008 |
229.65 |
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0.41%
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1.15 |
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the sum may not equal the whole |
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| 50 |
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1 Dec 2008 |
230.59 |
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0.41%
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1.15 |
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due to daycount effects in partial periods. |
| 51 |
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1 Jan 2009 |
231.53 |
2.89 |
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1.66%
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1.16 |
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The function uses daycount type 5 (decimal
month ACTM/12). |
| 52 |
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1 Feb 2009 |
232.47 |
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0.41%
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1.16 |
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| 53 |
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1 Mar 2009 |
233.42 |
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0.41%
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1.17 |
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16 Jan 06 |
16 Jan 11 |
63.65%
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| 54 |
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1 Apr 2009 |
234.37 |
2.93 |
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1.66%
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1.17 |
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| 55 |
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1 May 2009 |
235.32 |
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0.41%
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1.18 |
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| 56 |
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1 Jun 2009 |
236.28 |
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0.41%
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1.18 |
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| 57 |
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1 Jul 2009 |
237.24 |
2.97 |
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1.66%
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1.19 |
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| 58 |
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1 Aug 2009 |
238.21 |
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0.41%
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1.19 |
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| 59 |
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1 Sep 2009 |
239.18 |
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0.41%
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1.20 |
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| 60 |
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1 Oct 2009 |
240.15 |
3.00 |
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1.66%
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1.20 |
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| 61 |
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1 Nov 2009 |
241.13 |
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0.41%
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1.21 |
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| 62 |
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1 Dec 2009 |
242.11 |
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0.41%
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1.21 |
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| 63 |
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1 Jan 2010 |
243.10 |
3.04 |
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1.66%
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1.22 |
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| 64 |
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1 Feb 2010 |
244.09 |
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0.41%
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1.22 |
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| 65 |
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1 Mar 2010 |
245.09 |
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0.41%
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1.23 |
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| 66 |
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1 Apr 2010 |
246.08 |
3.08 |
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1.66%
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1.23 |
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| 67 |
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1 May 2010 |
247.09 |
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0.41%
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1.24 |
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| 68 |
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1 Jun 2010 |
248.09 |
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0.41%
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1.24 |
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| 69 |
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1 Jul 2010 |
249.10 |
3.11 |
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1.66%
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1.25 |
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| 70 |
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1 Aug 2010 |
250.12 |
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0.41%
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1.25 |
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| 71 |
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1 Sep 2010 |
251.14 |
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0.41%
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1.26 |
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| 72 |
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1 Oct 2010 |
252.16 |
3.15 |
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1.66%
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1.26 |
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| 73 |
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1 Nov 2010 |
253.19 |
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0.41%
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1.27 |
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| 74 |
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1 Dec 2010 |
254.22 |
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0.41%
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1.27 |
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| 75 |
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1 Jan 2011 |
255.26 |
3.19 |
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1.66%
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1.28 |
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| 76 |
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1 Feb 2011 |
256.30 |
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0.41%
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1.28 |
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| 77 |
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1 Mar 2011 |
257.34 |
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0.41%
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1.29 |
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| 78 |
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1 Apr 2011 |
258.39 |
3.23 |
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1.66%
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1.29 |
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| 79 |
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1 May 2011 |
259.44 |
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0.41%
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1.30 |
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| 80 |
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1 Jun 2011 |
260.50 |
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0.41%
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1.30 |
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