Performance Returns are derived based on the past NAV of the fund. It expresses the total returns you would have achieved on your principal investment had you been invested in the fund for that period of time. For example, the 3 Year Return of a fund will be derived from the difference between the latest NAV and the NAV of the fund 3 years ago. If the latest NAV of a fund is SGD1.848 and the NAV of the same fund 3 years ago is SGD1.725, then the Performance Return is: This means that the total returns you would have gained on your principal investment, had you been invested since 3 years ago, is 7.13%. The Annualised Performance Returns expresses the annualised (yearly) returns on your principal investment had you been invested in the fund for that period of time. It only applies for periods of more than 1 year (i.e. there is no annualised performance return for periods of 1 week, 1 month, 3 months etc.)