Scenario 1

3 year structure
Dividend 8.40%
3-Jul-14
31-Mar-15 26-Mar-15
31-Mar-16 26-Mar-16
31-Mar-17 26-Mar-17
31-Mar-17 3-Jul-17
XIRR

Scenario 2
5 year structure
Dividend 8.50%
3-Jul-14
31-Mar-15 26-Mar-15
31-Mar-16 26-Mar-16
31-Mar-17 26-Mar-17
31-Mar-18 26-Mar-18
31-Mar-19 26-Mar-19
31-Mar-19 3-Jul-19
XIRR

Scenario 3
Hybrid structure
Dividend Hybrid
3-Jul-14
31-Mar-15 26-Mar-15
31-Mar-16 26-Mar-16
31-Mar-17 26-Mar-17
31-Mar-17 3-Jul-17
31-Mar-18 26-Mar-18
31-Mar-19 26-Mar-19
31-Mar-19 3-Jul-19
XIRR
-296.5
18.78
25.20
25.20
306.42
8.91%

-296.5
19.00
25.50
25.50
25.50
25.50
306.50
8.83%

-296.5
18.93
25.40
25.40
102.14
17.00
17.00
204.33
8.85%
 Scenario 1
3 year structure 5 year structure
Dividend 8.40% Principal Dividend 8.50%
3-Jul-14 -100 100 3-Jul-14 -100
31-Mar-15 26-Mar-15 0.00 100 31-Mar-15 26-Mar-15 6.33
3-Jul-15 33.33 66.67 3-Jul-15 20.44
31-Mar-16 26-Mar-16 0.00 66.67 31-Mar-16 26-Mar-16 6.80
3-Jul-16 33.33 33.33 3-Jul-16 20.44
31-Mar-17 26-Mar-17 0.00 33.33 31-Mar-17 26-Mar-17 5.10
3-Jul-17 33.33 0 3-Jul-17 20.44
XIRR 0.00% 31-Mar-18 26-Mar-18 3.40
3-Jul-18 20.44
31-Mar-19 26-Mar-19 1.70
3-Jul-19 20.43
XIRR 8.56%
structure
Principal
100
100
80
80
60
60
40
40
20
20
0