Hi guys, I'm running a small fund of investments and doing well. I am computing the return of the fund based on the initial balance at the beginning of the measuring period (say Jan 1, 2006). Let's say the fund is returning 16% so far this year. A client wants to add funds to the fund. I'm a bit uncertain as to how to integrate that new amount without making the fund look like its performance is deteriorating. For example, the return is 160k on 1MM so far. The client adds 500k. I don't want to report 180k on 1.5MM at the end of the following month after the deposit. I know this is a novice question, but I haven't been able to find a discussion on this elsewhere. Thanks.