a. The performance of the fund over the past 1-year period from the 14th of September 2020 to the 13th of September 2021 is presented in the figure below. Based on the figure and given information, which of the following best describes the type of fund TFX: open-end fund/index fund, close-end fund, or exchange traded fund (ETF). Please explain your answers. 25.00 -NAV 20.00 15.00 10.00 5.00 0.00 14/09/2020 Fund TLW Performance 23/11/2020 5/02/2021 -Share Price Date 20/04/2021 30/06/2021 Over the past 1-year period, this fund had a portfolio turnover ratio of 10%. 10/09/2021 1

a. The performance of the fund over the past 1-year period from the 14th of September 2020 to the 13th of September 2021 is presented in the figure below. Based on the figure and given information, which of the following best describes the type of fund TFX: open-end fund/index fund, close-end fund, or exchange traded fund (ETF). Please explain your answers. Cver the past 1-year pernod, thus fund had a portrono furnover ratio of 1us