The Holt fund has $632 million in assets, 47 million in debt and 18 million shares at the start of the year. At the end of the year, the fund has $750 million in assets, 37 million in debt and 20 million shares. During the year, investors received $1.95 in distributions per share. The total expense ratio is 0.8%, which is deducted at the end of the year. What is the rate of the return on the fund?

Answer rating: 100% (QA)

Answer Beginning year NAV 632 million assets 47 million debt ... View the full answer