Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Logos Mutual Fund has $120 million in assets, $40 million in liabilities, and 8 million shares outstanding at the beginning of the year. The fund
Logos Mutual Fund has $120 million in assets, $40 million in liabilities, and 8 million shares outstanding at the beginning of the year. The fund paid $2 million in dividends over the course of the year and experienced a price appreciation of 10%. If the 12b-1 fee of the fund is 2%, what is the rate of return of the fund for the year?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started