A mutual fund has sold 15,000 shares to its investors. It holds the following in

Question

A mutual fund has sold 15,000 shares to its investors. It holds the following investments:

Stock         Shares             Price, 4/1                                 Price, 7/1

CBA           2,000               75.00                                       79.00

FED            3,000               26.00                                       27.25

IHG            2,000               45.50                                       49.00

LKJ             1,000               21.25                                       25.75

Compute the NAV on April 1.

Explanation / Answer

NAV Shares Price Total 2000 75 150000 3000 26 78000 2000 45.5 91000 1000 21.25 21250 NAV 340250

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