The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 200,000 $...
The composition of the Fingroup Fund portfolio is as follows:
| Stock | Shares | Price | ||||
| A | 200,000 | $ | 33 | |||
| B | 278,000 | 41 | ||||
| C | 411,000 | 31 | ||||
| D | 570,000 | 50 | ||||
The fund has not borrowed any funds, but its accrued management fee with the portfolio manager currently totals $22,000. There are 2.3 million shares outstanding.
What is the net asset value of the fund?
Homework Answers
Net asset value = [(200,000 × $33) + (278,000 × $41) + (411,000 × $31) + (570,000 × $50) - $22,000] / 2,300,000
Net asset value = $25.75
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