I have created a new kind of presentation for investors to understand how well a fund is doing, rather than just compare with the index only.
if the fund performance vs market index represent how a fund is perform compare to average (market), then total subscription vs market value represent what actually investors is earning.
you can see the blue area is the total subscription from the beginning of the fund.
while the green area is the market value of the fund through out the time.
As you can see, the more green the better, since it means the investment have grown so much compare to the input cost (total subscription)
this graph can also represent how well the fund is growing, if a lot of investors withdraw from the fund, obviously the blue area will become smaller and smaller, yet if the blue area increase, it means more and more investors are putting their trust here.
I do not believe anything have been done to a fund before (not that i know of).
but as an investor also the fund manager, i hope the green area will keep increasing as well as the blue area.