Reading #34 - Q11a Rolling Returns Hedge Fund

CFAI Readings #34 - page 368 Ok - maybe I’m missing something but the question asks for a 9 month rolling return on a hedge fund - the answer has 12 months of returns showing – CFAI started with the beginning of the year and I assumed that since I was given 12 months (Jan - Dec), I should count BACK 9 months and start there… [Me (Apr-Dec) CFAI (Jan-Sep)] Thoughts?


They calc it: Jan-Sep 0.7556 Feb-Oct 0.7778 Mar-Nov 0.3778 Apr-Dec 0.2444 Then Avg them 0.54