Stupid question that is really pissing me off

This is really frustrating me:

Reading 24 EOC question 12B:

Compute the Sortino ratio from the below table and, based on this statistic, evaluate the performance of the hedge fund.

How do I calculate the annualised return from the below portfolio of monthly returns?

Month** Hedge Fund Returns (%)** January 3.50 February 4.00 March –2.00 April –2.00 May –1.00 June 0.90 July –1.00 August 1.70 September 2.70 October 3.70 November 0.40 December –3.20

Thank you for your kind help.

Don’t worry, it’s been a long long story for many of us :wink:

Here:

http://www.analystforum.com/forums/cfa-forums/cfa-level-iii-forum/91339579