Closed end fund quantitative problem A closed-end fund has an NAV of $30 at the beginning of the year and sells at a 2% premium. The fund has an NAV of $31.90 at the end of the year and sells for a 7% discount. The fund also paid $3.30 in distributions of income and capital gains during the year. A. What is the rate of return to an investor in the fund during the year? B. What would have been the rate of return to an investor holding the same securities as the fund during the year