1. Amihere Fund is a close-end investment company with portfolio of financial assets worth GHS150 million currently. It has liabilities of GHS10 million and 20 million shares outstanding.

1. What is the net asset value of the fund?
2. If the fund currently sells for GHS8 per share, what is its premium or discount as a percentage of net asset value?
3. Distinguish between a closed-end investment fund and open-end investment fund.
4. Explain why close-end unit trusts or mutual funds are quotable on the Ghana Stock Exchange but open-end unit trusts or mutual funds are not.
5. What are the roles of brokers in securities trading?
6. With respect to mutual funds, distinguish between front-end load and back-end load.

What is the difference between a balanced fund and asset allocation fund