indythinker85 Posted February 4, 2014 Share Posted February 4, 2014 The Fund’s 63.2% gross return to Limited Partners was achieved despite a 23.5% depreciation in the value of the South African rand against the U.S. dollar. On a constant currency basis, the gross return would have been 101%. The three-year net return (in dollars) is 239.5%, or 50.3% annualized. http://www.valuewalk.com/2014/02/riskowitz-value-letter-2013/ Link to comment Share on other sites More sharing options...
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