The government guarantees a 2.5 annual return.
The Altum HQ Trust had listed a $200,000 loan payment that the AEC found "could not be verified or supported by records provided" in its 2010-2011 annual return.
Butler told the Sunday Times he was unaware he had to declare the April trip in his 2013-14 annual return until he received legal advice about this year's return, and could not retrospectively correct the error.
In the 2014-15 annual returns, released in February, the Liberal party declared a total of $75.9m in donations and other receipts.
The 47 annual returns averaged out to 9.9% (pardon the long-winded arithmetic), 3.1 points better than the average of the annualized returns from hypothetical market holdings.
During the period 1990 1999, annual returns at Clatse River averaged 17,000 pink salmon and 5,000 chum salmon (22 salmon/m), while at Neekas River, returns averaged 18,000 pink salmon and 30,000 chum salmon (23 salmon/m) (Department of Fisheries and Oceans escapement data: 1990 1999).
Next Katcher has been trying to merge the four old Steadman funds into one, but has only succeeded in liquidating the $300,000 Steadman Technology & Growth Fund (20-year annual return: -8.8% ).
Even after Disney's tumble, that initial $10,000 is at more than $176,000 today a 17.1% annual return for 18 years, versus 12.6% for the S&P.
It sees a 10-year annual return between 10.2% and 11.1% for P&G using those methods, which, while not bad, falls short of the strategy's 12% target.
Berkshire shares up 24% over past 12 months; have averaged 21.4% annual return since 1965.
Tesla Motors has been public for less than 10 years but looking at its 5-year annual return of 59percentt vs. auto manufacturers ~4percentt and the S&P 500's ~11percentt, also illustrates alpha.
