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The Intelligent Fund is an open-end mutual fund with front-end loading charge. One year ago, it was quoted at Net Asset Value (NAV) of $18.60
The Intelligent Fund is an open-end mutual fund with front-end loading charge. One year ago, it was quoted at Net Asset Value (NAV) of $18.60 and an offer price of $19.62. It is currently being quoted at $19.10 (NAV) and $20.11 (offer price). Over the year, its capital gains distributions and income dividends totaled $1.22 a share. i. Calculate the rate of return on this fund over the past one year. (4 marks) ii. If Intelligent Fund carries no front-end load, calculate the rate of return on this fund over the past one year. (4 marks)
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