The rate of return computed by first determining the cash flows for all the bonds in the portfolio and then finding the interest rate that will make the present value of the cash flows equal to the market value of the portfolio.
PORTFOLIO INTERNAL RATE OF RETURN
Meaning of PORTFOLIO INTERNAL RATE OF RETURN in English
Campbell R. Harvey. Hypertextual finance English glossary. Английский словарь гипертекстовых финансов. 2012