EBK INVESTMENTS
11th Edition
ISBN: 9781259357480
Author: Bodie
Publisher: MCGRAW HILL BOOK COMPANY
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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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Students have asked these similar questions
The New Fund had average daily assets of $2.2 billion last year. The fund sold $400 million worth of stock and purchased $500 million during the year. What was its turnover ratio?
The New Fund had average daily assets of $3.2 billion in the past year. The fund sold $500 million and purchased $500 million worth of stock during the year.
a. What was its turnover ratio?
b. If the fund had an expense ratio of 1.1%, what were the total fees paid to the fund's investment managers?
The New Fund had average daily assets of $3.6 billion in the past year. The fund sold $414 million and purchased $514 million worth of stock during the year. What was its turnover ratio? (Round your answer to 2 decimal places.)
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