MichaelC -

Calculating an accurate Annualized Return is not an easy set of
calculations, as far as I know, and there are different ways of doing
it - not such a long time ago there was some debate about methods used,
and I believe Congress passed some legislation that at the least
required a clearer labelling of exactly which method was used. I
haven't looked at the Moneycentral groups you asked about, but I
thought I might be able to provide some marginally useful information.

If you hold a 100% invested and unchanged portfolio for a full year,
then it's easy - it's when the changes come in that you run into
problems. You have to do it in pieces, and adjust correctly for the
time period. If you like accounting, try a hypothetical portfolio with
one addition of funds. Then try it withdrawing funds, once. Then try
adding and withdrawing (at different points in time). You see where it
gets into accounting.

I'm not sure I have the energy to look, but if you are really serious,
try the AICPA or the FASB websites.

For a given set of investments grouped in Moneycentral as an account, does
anyone know how Moneycentral calculates the Annualized Return for that group
of investments?

Mike