1. Compare and contrast actively managed fund and index fund 2. On retirement, John Mensah has GHC 100,000 accumulated in variable annuity accounts. The initial payment is determined by setting an investment which gives a return of 4 %. Assume that the life expectancy of Mr Mensah is 3 years. What is the hypothetical constant benefit payment. (GHC 36,034.89). 3. 4. Trust fund is a closed-end Investment Company with a portfolio currently worth GH195 million. It has liabilities of GH5 million and 5 millions shares outstanding a. What is the NAV of the fund b. If the fund sells for Gh35 per share, what is the percentage discount on premium that will appear in the listing in the financial pages. 5. Are investors deterred by high charges? Critically investigate this, with reference to mutual funds 6. Assume Florence is now 75 years and is expected to live until age of 80. She has GHC 100,000 in a variable annuity accounts. If the assumed return of investment is 6 %. What is the initial annuity payment. (GHC 22,462.71)