Question
Michael notes that a Canadian equity mutual fund has net assets of $34,500,000 and liabilities of $3,200,000. The fund charges a front-end load of 3.8%
Michael notes that a Canadian equity mutual fund has net assets of $34,500,000 and liabilities of $3,200,000. The fund charges a front-end load of 3.8% and carries a management expense ratio of 2.4%. There are currently 2,100,000 units outstanding. Michael would like to purchase 1,000 units.
What approximate fee would he have to pay to purchase this mutual fund?
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
15th edition
1337671002, 978-1337395250
