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

\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)


V_{i,t,RepCCY} and  V_{i,t-1,RepCCY} denote constituent i's fair value estimates at times t and t-1 respectively.
w_{i,t-1} denotes the weight of constituent i at time t-1.

This is an input to the computation of price returns contribution

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