The New Germany Fund (NGF), a closed-end fund, turned in the following performance for the year 2019.
a. Based on this information, what was the NAV-based HPR for the NGF in 2019?
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 2019? Did the market premium or discount add to or hurt the holding period return on NGF? Explain.

Transcribed Image Text:

Item NAV Market price of the fund shares Dividends paid over the year Capital gains distributed over the year Beginning of the Year €7.50 €7.75 End of the Year €9.25 €9.00 €1.20 €0.90