A mutual fund holds $2.8million worth of assets and 560,000 number of shares issued at the beginning of the year. The mutual fund has 1.2% operating expenses and 0.5% 12b-1 fees. Expenses and fees are deducted from assets at the end of the year. At the end of the year, the assets held by the fund are worth $ 4.4m (before expenses) and there are 800,000 shares outstanding. Just before the end of the year, the fund realized $0.3m capital gains and received $0.2m dividends. What is the reported return on the fund?

Answer rating: 100% (QA)

Formula Time T T 0 T 1 A Assets 2800000 4400000 n Shares 560000 ... View the full answer