The composition of the Fingroup Fund portfolio is as follows: Stock ABCD Shares 370,000 470,000 570,000 770,000 Price $ 35 40 10 15 Required: If during the year the portfolio manager sells all of the holdings of stock D and replaces it with 210,000 shares of stock E at $40 per share and 210,000 shares of stock F at $15 per share, what is the portfolio turnover rate? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Turnover rate 29.92 %

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
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The composition of the Fingroup Fund portfolio is as follows:
Stock
ABCD
Shares
370,000
470,000
570,000
770,000
Price
$ 35
40
10
15
Required:
If during the year the portfolio manager sells all of the holdings of stock D
and replaces it with 210,000 shares of stock E at $40 per share and
210,000 shares of stock F at $15 per share, what is the portfolio turnover
rate? (Round your answer to 2 decimal places.)
Answer is complete but not entirely correct.
Turnover rate
29.92 %
Transcribed Image Text:The composition of the Fingroup Fund portfolio is as follows: Stock ABCD Shares 370,000 470,000 570,000 770,000 Price $ 35 40 10 15 Required: If during the year the portfolio manager sells all of the holdings of stock D and replaces it with 210,000 shares of stock E at $40 per share and 210,000 shares of stock F at $15 per share, what is the portfolio turnover rate? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Turnover rate 29.92 %
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