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City Street Fund has a portfolio of $490 million and liabilities of $10 million. a. If there are 30 million shares outstanding, what is the

City Street Fund has a portfolio of $490 million and liabilities of $10 million. a. If there are 30 million shares outstanding, what is the net asset value?

Net Asset Value:

b-1. If a large investor redeems 1 million shares, what happens to the portfolio value? (Enter your answer in millions.)

Portfolio value ___________ to _________ million

b-2. If a large investor redeems 1 million shares, what happens to shares outstanding? (Enter your answer in millions.)

Portfolio value ___________ to _________ million

b-3. If a large investor redeems 1 million shares, what is the net asset value?

Net Asset Value:

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