Sub CalcHedge2()
    nTotNav = 0
    nAccHedge = 0
    nLastHedge = 0

    For nHedge = 1 To 9999
        If Left(Sheets("GLOBALNAV").Cells(nHedge, 3), 13) = "EURO STOXX 50" Then
            nCalcHedge = Sheets("GLOBALNAV").Cells(nHedge, 5) * Sheets("GLOBALNAV").Cells(nHedge, 10) * 10
            nAccHedge = nAccHedge + nCalcHedge
            nLastHedge = nHedge
        End If
    Next

    For nSrcNav = nLastHedge To 9999
        If Sheets("GLOBALNAV").Cells(nSrcNav, 2) = "TOTAL NET ASSET VALUE" Then
            nTotNav = Sheets("GLOBALNAV").Cells(nSrcNav, 4)
            Exit For
        End If
    Next

    Sheets("GV9K-Stat").Range("J31") = nAccHedge / nTotNav
End Sub