ROE equals p divided by (E0 plus NP divided by 2 plus Ei multiplied by Mi divided by M0 minus Ej multiplied by Mj divided by M0). The weighted average return on equity is an important index to measure the return on investment of investment funds. In the calculation formula, P stands for profit during the reporting period, E0 stands for net assets at the beginning, NP stands for net profit during the reporting period, Ei stands for new net assets such as issuing new shares or debt-to-equity swaps during the reporting period, Ej stands for reduced net assets such as repurchase or cash dividends during the reporting period, and Mi and Mj stand for new net assets and the number of months from next year 1 month to the end of the reporting period. M0 represents the number of months in the reporting period, so the formula of weighted average ROE is ROE equal to P divided by (E0 plus NP divided by 2 plus Ei multiplied by Mi divided by M0 minus Ej multiplied by Mj divided by M0).