The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 400,000 $...
The composition of the Fingroup Fund portfolio is as
follows:
| Stock | Shares | Price | ||
| A | 400,000 | $ | 35 | |
| B | 500,000 | 40 | ||
| C | 600,000 | 20 | ||
| D | 800,000 | 25 | ||
If during the year the portfolio manager sells all of the holdings
of stock D and replaces it with 250,000 shares of stock E at $50
per share and 250,000 shares of stock F at $30 per share, what is
the portfolio turnover rate? (Round your answer to 2
decimal places.)
Homework Answers
| Portfolio Turnover Rate | = | 30.30% | |||
| Workings: | |||||
| Stock | Shares | Price | Total Value | ||
| A | 400000 | X | 35 | = | 14000000 |
| B | 500000 | X | 40 | = | 20000000 |
| C | 600000 | X | 20 | = | 12000000 |
| D | 800000 | X | 25 | = | 20000000 |
| Total | 66000000 | ||||
| Portfolio Turnover Rate | = | Value of Stock D / Total stock Value | |||
| = | $20000000 / $66000000 | ||||
| = | 30.30% | ||||
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