Homework Answers
| 09) | NAV = (200000*35+300000*40+400000*20+600000*25-30000)/4000000 = | $ 10.49 |
| 10) | Portfolio turnover rate = The total purchases or total sales, whichever is lower/average of the net assets. | |
| Total purchases = 200000*50+200000*25 = | 15000000 | |
| Total sales = 200000*25 = | 15000000 | |
| Net assets at year beginning = (200000*35+300000*40+400000*20+600000*25) = | 42000000 | |
| Net assets at year end = (200000*35+300000*40+400000*20+600000*25-30000) = | 41970000 | |
| Average net assets = (41970000+42000000)/2 = | 41985000 | |
| Portfolio turnover rate = 15000000/41985000 = | 35.73% |
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