. If there are 30 million shares outstanding, what is the net asset value? b-1. If a large investor redeems 3 million shares, what happens to the portfolio value?
. If there are 30 million shares outstanding, what is the net asset value? b-1. If a large investor redeems 3 million shares, what happens to the portfolio value?
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter13: Investing In Mutual Funds, Etfs, And Real Estate
Section: Chapter Questions
Problem 7FPE
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Question
City Street Fund has a portfolio of $420 million and liabilities of $30 million.
Required:
a. If there are 30 million shares outstanding, what is the net asset value?
b-1. If a large investor redeems 3 million shares, what happens to the portfolio value? (Enter your answer in dollars not in millions.)
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