Since Inception Net Return., page-4

Based on the data in Yahoo to 30 June 2015

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7
0	30/06/2015	1.065	1.075	1.06	1.075	200100	1.075
1	25/03/2004	0.9	0.95	0.9	0.91	145600	0.91

and re-investing all the dividends along the way at the appropriate DRP price that CTN has listed on its website (84.6 cents in total) I find the annual return to shareholders is 6.6% not 15.5%. This of course includes the GFC period and makes sense, so  I don't understand how the 15.5% is calculated.

When I do a five year return (with reinvestment) I get an anuual return of 15.5% - I wonder if the numbers were mixed up? This is helped tremendously by the fact that the shares five years ago were 73.5 cents. This is much higher than the 8.6% they reported in their announcement. The ASX200 returned 9.69% (https://www.spdrs.com.au/etf/fund/fund_detail_STW.html)

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7
0	30/06/2010	0.755	0.755	0.735	0.735	273500	0.735
1	30/06/2015	1.065	1.075	1.06	1.075	200100	1.075

Unfortunately for me I bought on 19 Apr 2010 for $1.00 and sold for 1.065 yesterday so my annual return was 8.5%. Interesting how a few months can make a big difference (15.5% to 8.5%) even over a 5 year time frame.