Mr Runar Rikeman invests in US stocks. His home currency is the euro. In the beginning of a 12-year investment period, the direct foreign exchange quote against the US dollar was 0.91. The holding period return on the shares that were bought was -58 per cent in local US terms. In the end, the FX quote was 0.99. Compute the annualised rate of return in per cent from a euro point of view.

• The answer is given in per cent using one decimal place. This means that a return of, say, 10.1 per cent, is expressed as 10.1. Do not add anything else, not even the "%" sign.

• Should there be intermediate steps in your calculations, please remember to keep a large number of decimal places in all intermediate calculations, as the final answer needs to be exact.