| The Investment Performance Detail Report details the performance and cash flows associated
with of a selected investment from your club portfolio. You access
it by clicking on the word detail on the
Investment Performance Report.
Date -
The date applicable to each transaction associated with the
selected investment.
Description -
A description of the each transaction associated with the selected security.
Investments -
The original investment, any additional investments, and costs, such as
commissions, associated with this investment.
Returns -
The amount of any distribution with regard to this investment, including dividends, returns of capital, shares used to pay off members, etc.
Annualized Internal
Rate of Return -
The Annualized Internal
Rate of Return (AIRR)
is the internal rate of return (IRR)
of each investment taking into consideration all cash flows into and
out of that investment, as well as changes in share price.
This calculation, while quite complex, determines the
annual interest rate that would need to be paid on a bank account that
will give you the same total return on your investment.
Note: AIRR's for short periods of time can become extremely distorted
and misleading. For example: Let's look at a $1000 investment that
earns a 1% total return or $10 on the first day. On an annualized
basis $10 earned on $1000 invested for one day equals an AIRR of over
3600%. That's because the AIRR calculation is an annualized
calculation. In other words, if your put $1000 into a bank account, in
order for that $1000 to earn $10 in one day that bank account would
have to pay interest at a rate of 3679%.
To avoid confusion, a value of
N/A is displayed when the period is shorter than the configured
A.I.R.R. Wait Period. An officer may change the default
A.I.R.R. Wait Period as described in the
Club Configuration help topic.
In the unlikely event that
bivio does not find all of the data necessary to calculate an accurate
AIRR, bivio will place an ERR in the AIRR column for the
applicable security.
Annualized Internal Rate of Return on Investments - The
Annualized Internal Rate of Return on Investments is the internal rate
of return (IRR) of all investments held by the club at any time during
the date range of the report. The Annualized Internal Rate of Return
on Investments takes into consideration all cash flows into and out of
the club investment portfolio, as well as changes in share price of
each investment.
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