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A mutual fund has $450 million in assets and liabilities of $10 million. If the fund has 44 million shares outstanding, what is its NAV?

  1. A mutual fund has $450 million in assets and liabilities of $10 million.
    1. If the fund has 44 million shares outstanding, what is its NAV?
    2. If an investor redeems 1,000,000 shares, what happens to the value of the funds portfolio, to the number of shares outstanding, and to its NAV?

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