easy · Private Equity pe-core

If the result is 1.15, how should the investor interpret the fund's performance?

1. The fund outperformed the public market index by 15%.
2. The fund has returned $1.15 for every $1.00 invested.
3. The fund underperformed the index because the result is less than 1.5.
4. The fund's internal rate of return is exactly 11.5%.

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