Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The New Fund had average daily assets of $3.9 billion in the past year. New Fund's expense ratio was 1.4% and the management fee was
The New Fund had average daily assets of $3.9 billion in the past year. New Fund's expense ratio was 1.4% and the management fee was 0.7% a. What were the total fees paid to the fund's investment managers during the year? (Enter your answer in millions rounded to 2 decimal places.) Total fees paid $ 27.30 million b. What were the other administrative expenses? (Enter your answer in millions rounded to 2 decimal places.) Other administrative expenses million
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started