Adequate information: The average daily asset of the new fund in the past year accounts for $2.2 billion. The fund purchased $500 million and sold $400 million worth of stock in the year. To calculate: The turnover ratio of the new fund Introduction: The turnover ratio of the fund refers to the measurement that reflects the percentage associated with the holding of specific fund, which have been turned over or replaced during the past year.

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Chapter 4, Problem 16PS

Summary Introduction

Adequate information:

The average daily asset of the new fund in the past year accounts for $2.2 billion. The fund purchased $500 million and sold $400 million worth of stock in the year.

To calculate:

The turnover ratio of the new fund

Introduction:

The turnover ratio of the fund refers to the measurement that reflects the percentage associated with the holding of specific fund, which have been turned over or replaced during the past year.

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