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Definition: Previous 12 Months Turnover

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Represents a rolling year of turnover as a percentage. If purchases or sales are 0, the value will be 0. Both purchase (buys, covers) and sale (sells, shorts) values are gross values.

Calculated as:

Portfolio Turnover Rate = (the minimum of purchases or sales for the previous 12 months / Average Daily Balance Previous 12 Months) * 100