I have the following data for a fund. The contributions come from the LPs (i.e., the investors invest more in the fund, or withdraw money from the fund), MV stands for market value.
The timing is not regular (makes me think I should use XIRR) and the flows can be negative (modified IRR, generalised IRR ? ) and I have to adjust for changes in the market value (unrealised gains).
What approach/formula should I use in this instance, please?
I have been asked to calculate the internal rate of return of the fund, but the exact definition is left up to me, provided it makes sense.
(I saw these two questions: