Q 5A, p.107, CFAI vol. 6 When the portfolio has investments in US, UK and France, and we are asked to calculate the local currency return on the portfolio, should we just get 3 local currency returns, or further weight-average them based on base currency weighting? - sticky
Depends on how the question is worded. If it is multiple choice question, you will know whether your answer is 3 numbers or one. If it is an essay-type question, it is just one extra line from individual local currency returns to weighted average of local currency returns.