Question
The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 200,000 $ 34 B 292,000 36 C 404,000 24 D 640,000
The composition of the Fingroup Fund portfolio is as follows:
| Stock | Shares | Price | ||||
| A | 200,000 | $ | 34 | |||
| B | 292,000 | 36 | ||||
| C | 404,000 | 24 | ||||
| D | 640,000 | 45 | ||||
During the year the portfolio manager sells all of the holdings of stock D and replaces it with 200,000 shares of stock E at $70 per share and 185,000 shares of stock F at $80 per share. What is the portfolio turnover rate? (Round your answer to 1 decimal place.)
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Foundations Of Financial Management
Authors: Stanley B. Block, Geoffrey A. Hirt, Bartley R. Danielsen
13th Edition
0073382388, 978-0073382388
