Turnover A mutual fund sold $75 million of assets during the year and purchased $68 million m assets. If the average daily assets of the fund was $120 million, what was the fund turnover? Closed-End Funds A closed-end fund has total assets of $350 million and liabilities of $800,000. Currently, 20 million shares are outstanding. What is the NAV of the fund? If the shares currently sell for $15.27, what is the premium or discount on the fund?_