Investments, 11th Edition (exclude Access Card)
11th Edition
ISBN: 9781260201543
Author: Zvi Bodie Professor; Alex Kane; Alan J. Marcus Professor
Publisher: McGraw-Hill Education
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Chapter 4, Problem 10PS
Summary Introduction
Adequate information:
Opening NAV of the fund - $ 41,970,000 During the year stock D holding is sold
Fund purchased 200,000 shares of stock E at $ 50 per share and 200,000 shares of stock F at $ 25 per share
To compute:
Portfolio turnover rate
Introduction:
Portfolio turnover rate represents the frequency of purchases and sales of the securities made by the fund manager. It is the ratio of minimum of the total value of securities purchased or sold during a particular period to the average net assets value (NAV) of the fund.
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Chapter 4 Solutions
Investments, 11th Edition (exclude Access Card)
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