Using the information provided below, what is the management expense ratio (MER) on thisfund as at December 31? Net asset value at December 31 is $38,000,000, Average net asset valuefor the year ending December 31 is $34,500,000, Aggregate fees and expenses payable duringthe year are $1,120,000a)1.12%b)2.95%c)10.14%The correct answer is:d) 3.25%FEEDBACK :Management Expense Ratio = (AggregateFees and Expenses Payable During theYear ÷AverageNet Asset Value for the Year) × 100. Management Expense Ratio = ($1,120,000÷ $34,500,000) × 100 = 3.25%. Text Reference: Chapter 17: Mutual Funds: Structure andRegulation.11.Bill invests $5,000 in a fund at $5 per unit and takes advantage of its dividend reinvestmentplan. On December 30th, the fund's NAVPS is $6 and it pays a distribution of $1 per unit.Calculate the number of units Bill owns after the distribution.

Answer rating: 100% (QA)

Absolutely the answer you provided d 325 is correct Heres the calculation for the Management Exp... View the full answer