To calculate the twrr, how to treat the net cash flow in/out after the valuation date. Wheather to deduct from the previous value?
I could give you a formula but there's no point. In each section between the cashflows, you're calculating the growth/accumulation factor which is given by: (fund size at end of period) รท (fund size at start of period) you then multiply all these growth/accumulation factors together and then calculate the "average" annual rate.
