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However, a 2003 vintage fund probably has had very few (if any) exits. I would like to understand what exactly the y-axis of this graph models, and how it accou
by far33d 20y ago
However, a 2003 vintage fund probably has had very few (if any) exits. I would like to understand what exactly the y-axis of this graph models, and how it accounts for performance. Is performance based on the value actually returned to investors (in which case, 2003 and newer funds would be expected to have little or zero return), or the current valuations?
There's very little I dislike more than graphs with unlabeled (or ambiguous) axes.
- phil 20y agofar33d, I think you're right about the y-axis. Here's a relevant page from Cambridge Associates (the source for this data): https://www.cambridgeassociates.com/Indexes/ I couldn't find the exact stuff Kedrosky graphed but most of their stats are for net end-to-end return to LPs, which would be value actually returned to investors.