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Capital growth, or indirect price return, measures the change in asset's value over a period of time relative to the initial value. The index-level capital growth is calculated as the weighted average using the market value of each constituent.

LaTeX Math Block
\text{Capital growth}_{t} = \sum\limits_{i=1}^{n} (w_{i,t-1} \times \frac{V_{i,t,RepCCY}}{V_{i,t-1,RepCCY}} - 1)

where:

LaTeX Math Inline
bodyV_{i,t,RepCCY}
and 
LaTeX Math Inline
bodyV_{i,t-1,RepCCY}
denote constituent i's fair value estimates at times t and t-1 respectively.
LaTeX Math Inline
bodyw_{i,t-1}
 denotes the weight of constituent i at time t-1.
Include Page
IM:Price Return
IM:Price Return