Question
The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 200,000 $ 37 B 274,000 47 C 413,000 33 D 550,000
The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 200,000 $ 37 B 274,000 47 C 413,000 33 D 550,000 30 a. The fund has not borrowed any funds, but its accrued management fee with the portfolio manager currently totals $33,000. There are 3.4 million shares outstanding. What is the net asset value of the fund? b. 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 $40 per share and 700,000 shares of stock F at $25 per share. What is the portfolio turnover rate?
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