A mutal fund with 1 million shares has 800 million of assets and 20 million of...
A mutal fund with 1 million shares has 800 million of assets and 20 million of liabilities. What is its NAV? If fund is traded at $55 per share what is it premium or discount in dollars and as percentage? What type of fund it must be if its price is (substantially) different from NAV?
Homework Answers
NAV=(Assets-Liabilities)/Number of Shares=(800-20)/1=78
Discount in dollars=78-55=-23
Discount in %=23/78=29.49%
As price is substantially different from NAV, this is a closed end fund
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A mutal fund with 1 million shares has 800 million of assets and
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