SYNTHETIC · READ ONLY · USD · 2026-Q4
Synthetic Partner Schedule Fund, a separate practice book. These figures are not added to the demo’s legacy co-invest portfolio.
| Date | External equity cash flow | USD |
|---|---|---|
| 2024-01-01 | Initial investment | −100,000 |
| 2025-01-01 | Distribution | 20,000 |
| 2026-09-30 | Realization | 110,000 |
| 2026-12-31 | Reviewed terminal GAAP mark — known zero | 0 |
| 2027-01-01 | Future investment — excluded | −5,000 |
The original XIRR is 11.2674479210%, using actual calendar days / 365. Its net-present-value residual was independently checked against these same flows. Excel was not executed. Terminal value is an analytical ending value, not a fictional receipt. Missing dates or an unknown ending mark produce no return.
| Version | Valuation date | Equity-only XIRR | Exact retained downloads |
|---|---|---|---|
| Original | 2026-12-31 | 11.2674479210% | XLSX · JSON |
| Replacement | 2026-12-31 | 12.0095041468% | XLSX · JSON |
The sourced replacement corrects the distribution to $21,000 and the ending administrator GAAP mark to $1,000. The return is recalculated from the retained revised inputs. The original remains downloadable. Prepared by portfolio.analyst@nsns-fund.example and approved independently by fund.controller@nsns-fund.example; this is synthetic review, not client acceptance.
Same-date flows are netted. Aggregate equity XIRR solves the combined flows of every included equity holding, including historical exits; it never averages position IRRs. Incomplete holdings block the complete aggregate. Write-offs are not cash. This example has one equity holding, so its aggregate and position return agree.
Solver: equity-xirr-1.0.0; bracketed log-rate bisection; domain −99.9999% to 100,000,000%, tolerance 10⁻¹² in log-rate. Multiple sign changes produce an explicit ambiguity result; no solution inside this domain produces no headline rate. These are equity investment returns, not fund-net or LP returns. Legacy MOIC arithmetic is unchanged; sparse legacy events are not silently converted into dated cash flows.
{
"input": {
"asOf": "2026-12-31",
"scope": {
"book": "fund-schedules-4a-1790624671583",
"quarter": "2026-Q4",
"vehicle": "d0866265-5240-43fb-8f93-7700d2fddecb"
},
"complete": true,
"positions": [
{
"flows": [
{
"id": "initial",
"date": "2024-01-01",
"kind": "investment",
"amount": "-100000",
"source": {
"policy": "Complete external equity history and administrator GAAP terminal mark",
"reference": "Synthetic signed statement v1/v2 page 1",
"documentId": "cmulx9gyy00004n7k0zauv0eq"
}
},
{
"id": "distribution",
"date": "2025-01-01",
"kind": "distribution",
"amount": "20000",
"source": {
"policy": "Complete external equity history and administrator GAAP terminal mark",
"reference": "Synthetic signed statement v1/v2 page 1",
"documentId": "cmulx9gyy00004n7k0zauv0eq"
}
},
{
"id": "realization",
"date": "2026-09-30",
"kind": "realization",
"amount": "110000",
"source": {
"policy": "Complete external equity history and administrator GAAP terminal mark",
"reference": "Synthetic signed statement v1/v2 page 1",
"documentId": "cmulx9gyy00004n7k0zauv0eq"
}
},
{
"id": "future",
"date": "2027-01-01",
"kind": "investment",
"amount": "-5000",
"source": {
"policy": "Complete external equity history and administrator GAAP terminal mark",
"reference": "Synthetic signed statement v1/v2 page 1",
"documentId": "cmulx9gyy00004n7k0zauv0eq"
}
}
],
"complete": true,
"terminal": {
"date": "2026-12-31",
"amount": "0",
"exited": false,
"source": {
"policy": "Complete external equity history and administrator GAAP terminal mark",
"reference": "Synthetic signed statement v1/v2 page 1",
"documentId": "cmulx9gyy00004n7k0zauv0eq"
},
"exitDate": null
},
"holdingId": "cmulnp3fc000b9z7k458w93nx"
}
],
"schemaVersion": 1
},
"result": {
"engine": "equity-xirr-1.0.0",
"convention": {
"dayCount": "Actual/365",
"minRate": -0.999999,
"maxRate": 1000000,
"logRateTolerance": 1e-12,
"iterations": 160,
"ambiguity": "Multiple net cash-flow sign changes: no headline rate"
},
"asOf": "2026-12-31",
"positions": [
{
"holdingId": "cmulnp3fc000b9z7k458w93nx",
"rate": 0.11267447921020207,
"reason": "available",
"flows": [
{
"date": "2024-01-01",
"amount": "-100000.00"
},
{
"date": "2025-01-01",
"amount": "20000.00"
},
{
"date": "2026-09-30",
"amount": "110000.00"
}
],
"issues": [],
"excludedFuture": 1,
"terminal": {
"date": "2026-12-31",
"amount": "0",
"exited": false,
"source": {
"policy": "Complete external equity history and administrator GAAP terminal mark",
"reference": "Synthetic signed statement v1/v2 page 1",
"documentId": "cmulx9gyy00004n7k0zauv0eq"
},
"exitDate": null
},
"complete": true
}
],
"aggregate": {
"rate": 0.11267447921020207,
"reason": "available",
"flows": [
{
"date": "2024-01-01",
"amount": "-100000.00"
},
{
"date": "2025-01-01",
"amount": "20000.00"
},
{
"date": "2026-09-30",
"amount": "110000.00"
}
]
},
"complete": true,
"excludedFuture": 1,
"basis": "Equity investments only; not fund-net or LP returns. Terminal unrealized value is an analytical endpoint, not a cash receipt."
},
"inputHash": "96e380638ce5134ddd1409676f5cad999175a96053e792a95706d45ba1869b15",
"runId": "cmulx9iwk00054n7kfx9gwd45",
"preparedBy": "portfolio.analyst@nsns-fund.example",
"approvedBy": "fund.controller@nsns-fund.example",
"approvedAt": "2026-09-29T00:12:22.343Z",
"reason": "Independent dated source completeness and GAAP zero review",
"population": [
"cmulnp3fc000b9z7k458w93nx"
],
"dependencyHash": "ba47c08134752325fd90453d34a0171c2a1746e408dd6142cf3f64bddca50d13"
}