What is a realistic return on value investing?

[CityFarmer]

Since STI is not annualized, should we use 30 Jun 2012 market value as last entry if we want to benchmark with STI for half year performance? instead of 31 Dec 2012?

XIRR gives an annualised figure. If we were to use 30 Jun 12 as the End Date, we'd get a figure that's more than twice.

Since I wanted to benchmark against STI to date (+8.77%) and this is not an annualised figure, I used 31 Dec 12 as my End Date even tho' we don't have that Market Value yet ie. I used 30 Jun 12 Mkt Value (but used 31 Dec 12 as the date).

OK. I had confused myself instead. Side-effect of crunching too much number