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Louis Hall read in the paper that Fidelity Growth Fund has an NAV of $14.05. He called Fidelity and asked how the NAV was calculated.
Louis Hall read in the paper that Fidelity Growth Fund has an NAV of $14.05. He called Fidelity and asked how the NAV was calculated. Fidelity gave him the following information:
Current market value of fund investment | $ | 8,770,000 |
Current liabilities | $ | 970,000 |
Number of shares outstanding | 555,000 | |
Did Fidelity provide Louis with the correct information?
Yes | |
No |
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