The All-Star Basic Value Fund\'s portfolio is valued at $311.6 million. The fund

Question

The All-Star Basic Value Fund's portfolio is valued at $311.6 million. The fund has liabilities of $7.2 million, and the investment company sponsoring the fund has issued 17,200,000 shares. What is the fund's net asset value (NAV)? (Round your answer to 2 decimal places.)

$17.20 NAV per share

$31.69 NAV per share

$17.10 NAV per share

$17.70 NAV per share

$18.54 NAV per share

The All-Star Basic Value Fund's portfolio is valued at $311.6 million. The fund has liabilities of $7.2 million, and the investment company sponsoring the fund has issued 17,200,000 shares. What is the fund's net asset value (NAV)? (Round your answer to 2 decimal places.)

Explanation / Answer

Solution:

Asset Value of Business = 311,600,000 Less: Value of Liabilities 7,200,000 Net Asset Value 304,400,000 Number of shares outstanding 17,200,000 Fund's net asset value per share = 17.70 The answer to the above question is $ 17.70 NAV per shares

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