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The Jays Fund Had a Value of $88,750 on January

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The Jays Fund had a value of $88,750 on January 1, 20XX. On April 1, 20XX (first quarter) the fund had a value of $91,650 and received an inflow of $18,500. On July 1, the fund had a value of $118,150 and paid a semi-annual dividend of $6,000. Assume the dividend was not reinvested. At year-end (December 31, 20XX), the fund's value was $126,850. Calculate the money- and time-weighted returns for the fund.


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