单选题
An asset management firm generated the following annual retums in their US large-cap equity portfolio:
| Year | Net Return(%) |
| 2008 | -34.8 |
| 2009 | 32.2 |
| 2010 | 11.1 |
| 2011 | -1.4 |
The 2012 return needed to achieve a tuailing five-year feometric mean annualized return of 5% when calculate at the end of 2012 is close st to:
【正确答案】
C
【答案解析】
Holding penriod total return(cumulative)factor calculation through 2011:
