Question: Consider a mutual fund with $ 2 1 4 million in assets at the start of the year and with 1 0 million shares outstanding.

Consider a mutual fund with $214 million in assets at the start of the year and with 10 million shares outstanding. The fund invests in a portfolio of stocks that provides dlvidend income at the end of the year of $2 million. The stocks included in the fund's portfolio increase in price by 8%, but no securities are sold, and there are no capital gains distributions. The fund charges 12b-1 fees of 1.00%, which are deducted from portfolio assets at year-end.
Required:
a. What is the net asset value at the start and end of the year? (Enter your answers in dollars rounded to 3 decimal places.)
\table[[x Answer is not complete.],[,,\table[[Asset],[alue]],],[Start of the year,$,21.400,Per share],[End of the year,,,Per share]]
 Consider a mutual fund with $214 million in assets at the

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!