The composition of the Fingroup Fund portfolio is as follows: Stock A B C D Shares 300,000 400,000 see,eee 700,000 Price $ 30 35 10 15 Required: If during the year the portfolio manager sells all of the holdings of stock D and replaces It with 150,000 shares of stock E at $30 per share and 150,000 shares of stock F at $40 per share, what is the portfolio turnover rate? (Round your answer to 2 decimal places.) Turnover rate %

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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The composition of the Fingroup Fund portfolio is as follows:
Price
$ 30
35
10
15
Stock
A
B
C
D
Shares
300,000
400,000
500,000
700,000
Required:
If during the year the portfolio manager sells all of the holdings of stock D and replaces it with 150,000 shares of stock E at $30 per
share and 150,000 shares of stock F at $40 per share, what is the portfolio turnover rate? (Round your answer to 2 decimal places.)
Turnover rate
96
Transcribed Image Text:The composition of the Fingroup Fund portfolio is as follows: Price $ 30 35 10 15 Stock A B C D Shares 300,000 400,000 500,000 700,000 Required: If during the year the portfolio manager sells all of the holdings of stock D and replaces it with 150,000 shares of stock E at $30 per share and 150,000 shares of stock F at $40 per share, what is the portfolio turnover rate? (Round your answer to 2 decimal places.) Turnover rate 96
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