A mutual fund sold $158 million of assets during the year and purchased $132 million in assets. If the average daily assets of the fund were $496 million, what was the fund turnover? (Enter your answer as a percent rounded to 2 decimal places.) Fund turnover %

A mutual fund sold $158 million of assets during the year and purchased $132 million in assets. If the average daily assets of the fund were $496 million, what was the fund turnover? (Enter your answer as a percent rounded to 2 decimal places.) Fund turnover %

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

A mutual fund sold $158 million of assets during the year and purchased $132 million in assets. If the average daily assets of the fund
were $496 million, what was the fund turnover? (Enter your answer as a percent rounded to 2 decimal places.)
Fund turnover
%

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