CFA Level I Quantitative Methods | Returns of Financial Assets and Instruments

What's the difference between Gross Return, Net Return, Leveraged Return, Post-Tax Return & Real Return? Sanjay Saraf Sir breaks it all down with real-world examples — including a live investment decision between two of his past students' funds. In this CFA Level 1 class, Sanjay Saraf Sir covers Specific Return Measures — one of the most concept-dense and exam-critical topics in the portfolio management section. 📌 Topics Covered: 00:59 — Direct vs Indirect Investment: Should you invest yourself or through a fund? 07:25 — Types of investment vehicles: Mutual Fund, PMS & AIF explained 10:34 — Pre-Cost Return → Gross Return (Transaction Costs explained) 12:02 — Gross Return vs Net Return: The #1 exam mistake students make 14:06 — Management Fee, Administrative & Custodial Expenses 20:17 — Practice Question: Calculating Gross Return & Net Return 27:09 — Introduction to Financial Leverage (Own Funds vs Borrowed Funds) 32:19 — Leveraged vs Unleveraged Return — which investor earns more? 45:12 — Formula: RL = RU + (RU − i) × D/E explained intuitively 53:03 — Is leverage good or bad? The Spread concept 54:32 — Practice: Calculating RL across multiple RU scenarios 1:10:50 — Debt Ratio vs Debt-Equity Ratio — don't confuse them in the exam 1:17:17 — Full Return Chain recap: Pre-Cost → Gross → Net → Leveraged → Post-Tax → Real 1:18:50 — Post-Tax Return calculation (Marginal Tax Rate) 1:21:44 — Real Return: Arithmetic vs Geometric method (1.17/1.05 − 1) Begin your CFA Level I journey with SSEI — New Batch starting 26th June. Enroll Now: For guidance, speak with our expert counsellors at or chat with us directly: Catalyzing Careers, Transforming Lives Sanjay Saraf Educational Institute (SSEI) is a leading coaching institute specializing in finance education. Learn. Grow. Succeed. 📞 Call/WhatsApp: