The first column in the table displays the actual annualised prepayment rates, the second column reveals the annualised prepayment rates assuming no purchases were made during the post-reinvestment (RI) period, and the third column illustrates the annualised purchase rates during the post-RI period. It’s notable that the median prepayment rate was markedly low, at a mere 2%, primarily because most managers engaged in asset acquisitions at a median annualised rate of 12%. Hypothetically, should all managers have refrained from reinvesting, the median annualised prepayment rate would have escalated to 15%.
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