Logos Mutual Fund has $120 million in assets, $40 million in liabilities, and 8 million shares outstanding at the beginning of the year. The fund paid $2 million in dividends over the course of the year and experienced a price appreciation of 10%. If the 12b-1 fee of the fund is 2%, what is the rate of return of the fund for the year?

Answer rating: 100% (QA)

Solution STATEMENT SHOWING CALCULATION OF RATE OF RETURN ... View the full answer