Question: The Well-Managed Closed-End Fund turned in the following performance for the year 2016. a. Based on this information, what was the NAV-based HPR for the

The Well-Managed Closed-End Fund turned in the following performance for the year 2016.

a. Based on this information, what was the NAV-based HPR for the WMCEF in 2016?

b. Find the percentage (%) premium or discount at which the fund was trading at the beginning of the year and at the end of the year.

c. What was the market-based HPR for the fund in 2016? Did the market premium or discount add to or hurt the holding period return on this CEF? Explain.

Item ____________________________Beginning of the Year ______End of the Year

NAV ............................................................. $7.50 ........................................ $9.25

Market price of the fund shares................ $7.75 ...................................... $9.00

Dividends paid over the year ............................. - ..................................... $1.20

Capital gains distributed over the year .................. - ............................... $0.90

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