Consider a no-load mutual fund with $250 million in assets and 9 million shares at the start of the year, and $390 million in assets and 11 million shares at the end of the year. Investors have received income distributions of $5 per share, and capital gains distributions of $0.40 per share.
Required:
1. Assuming that the fund carries no debt, and that the total expense ratio is 1%, what is the rate of return on the fund?
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Consider a no-load mutual fund with $250 million in assets and 9 million shares at the start of the...
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