INVESTMENTS(LL)W/CONNECT
11th Edition
ISBN: 9781260433920
Author: Bodie
Publisher: McGraw-Hill Publishing Co.
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Question
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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INVESTMENTS(LL)W/CONNECT
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