Measuring Private Equity Performance

return which runs from 3.1 per cent upon sales in poor years to 10 or 11.5 per cent in good years. Chart 6 shows the annual rates. These general average figures for All Manufacture do not differ very1strikingly from the ratios shown in Chapter 2 for the return upon capitalization. In 1924—28 they run fairly close to those for the percentage ................
................