Question
You have $1000 to invest in a mutual fund (XYZ) for a year. XYZ is a front-end load (2%) fund. XYZ currently has a $100mil
You have $1000 to invest in a mutual fund (XYZ) for a year. XYZ is a front-end load (2%) fund. XYZ currently has a $100mil NAV, and 10 millions shares outstanding. The mutual fund does not pay interests/dividends. At the end of the year, XYZ has a value of $120mil. MER is 2.5%, What is your HPR over the year?
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International Financial Management
Authors: Jeff Madura
3rd Edition
0314862722, 978-0314862723
