Page 4 - FINAL CFA SLIDES DECEMBER 2018 DAY 12
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Session Unit 12:
                                                                  41. Portfolio Risk and Return: Part 1


        LOS 41.a: Calculate and interpret major return measures and describe their appropriate uses., p.125

            Holding period return (HPR)                        Average Returns                       Geometric Mean Return (GMR)

                                                     (=Arithmetic Mean Return –AMR)










                                                         tanties






        Example: Return measures, p.126: An investor purchased $1,000 of a mutual fund’s shares. The fund had the following total
        returns over a 3-year period: +5%, –8%, +12%. Calculate HPR, AR, & GMR value at the end of the 3-year period.
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