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Suppose you purchase 5 , 0 0 0 shares of a closed - end mutual fund at its initial public offering; the offer price is
Suppose you purchase shares of a closedend mutual fund at its initial public offering; the offer price is $ per share. The offering prospectus discloses that the fund promoter gets a fee of percent from the offering. If this fund sells at a discount of percent to NAV the day after the initial public offering, what is the value of your investment? Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar. Investment value
Suppose you purchase shares of a closedend mutual fund at its initial public offering; the offer price is $ per share. The
offering prospectus discloses that the fund promoter gets a fee of percent from the offering. If this fund sells at a discount of
percent to NAV the day after the initial public offering, what is the value of your investment?
Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar.
Investment value
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