单选题 Which of the following statements regarding the money -weighted and time -weighted rates of return is least accurate? A. The time - weighted rate of return reflects the compound rate of growth of one unit of currency over a stated measurement period. B. The time - weighted rate of return is the standard in the investment management industry. C. The money - weighted rate of return removes the effects of the timing of additions and withdrawals to a portfolio.

【正确答案】 C

【答案解析】The money -weighted return is actually highly sensitive to the timing and amount of withdrawals and additions to a portfolio. The time - weighted return removes the effects of timing and amount of withdrawals to a portfolio and reflects the compound rate of growth of $1 over a stated measurement period. Because the time - weighted rate of return removes the effects of timing, it is the standard in the investment management industry.