Christopher Schröder Jan 27, 2011:

I think we used to call it simply "book return". You could maybe use accounting return or realised return. It used to be contrasted with "value-adjusted return" as it excludes unrealised gains and losses. Now that everything is recognised at market value that distinction should have gone and I'm surprised it's still used at all. Maybe it's been retained to give pension savers a less volatile return than one based on market values?