A mutual fund sold $75 million of assets during the year and purchased $68 million in assets. It the average daily assets of the fund was $120 million, what was the fund turnover? A closed-end fund has total assets of $350 million and liabilities of $800,000. Currently, 20 million shares are outstanding. What is the NAV of the fund? If the shares currently sell for $15.27, what is the premium or discount on the fund? You invested $10,000 in a mutual fund at the beginning of the year when the NAV was $41.86. At the end of the year the fund paid $.34 in short-term distributions and $ 1.25 in long-term distributions. If the NAV of the fund at the end of the year was $43.51, what was your return for the year