Property metrics
| Metric | How it is calculated |
|---|---|
| Gross yield | Annual rent / current valuation. |
| Net yield | (Annual rent - operating expenses - service charges - property tax) / current valuation. |
| Cash-on-cash | Distributions received in the last 12 months / cost basis. |
| Valuation change | Current valuation compared with the acquisition price. |
| Property IRR | The annualised return on dated cash flows: minus the total project cost at acquisition, plus net distributions, plus the latest valuation as the final value. |
Client metrics
| Metric | How it is calculated |
|---|---|
| Invested capital | Payments on settled orders, with refunds counted back. |
| Current value | Fractions times the latest NAV per fraction, valued at cost where there is no valuation. |
| Unrealised gain | Current value minus invested capital. |
| Distributions received | Paid distribution lines. |
| Total return | Gain plus distributions received. |
| Client IRR | Minus payments, plus paid distributions, plus the current value today, converted to your base currency. |
About IRR
IRR here is the XIRR: the annual rate that makes the dated cash flows add up to zero. It is solved numerically and checked against reference values to six decimal places.
- It is shown only when the cash flows span at least a year. Annualising a few weeks gives meaningless figures, so a dash appears instead, with a hint.
- It also shows a dash when there is no sign change in the flows, or when a flow could not be converted to your base currency.
Note: NAV per fraction follows your choice of showing it before or after debt. See Financials, yields and NAV.