Overview of investment performance

¹  Small deviations may occur due to rounding
²  Includes gains on hedging mandates

Historic investment performance

Accounting principles: The performance is calculated using the time-weighted return (TWR) method except for the Treasury for which the Linked Internal Rate of Return (LIRR) method is applied. The net performance is calculated after deduction of the fees for external asset managers and includes the profit / loss (realised and unrealised gains and losses), income (dividends, interest, securities lending commission) and transaction costs (brokerage, stamp duty, custody account fees and other levies). The costs of the Management Office at the end of the financial year are allocated globally for the calculation of the return after deduction of the administrative costs. They are not allocated to the individual mandates and asset classes. 

¹  Small differences in the totals are due to rounding