In: Finance
The composition of the Fingroup Fund portfolio is as
follows:
Stock | Shares | Price | ||
A | 250,000 | $ | 35 | |
B | 350,000 | 40 | ||
C | 450,000 | 15 | ||
D | 650,000 | 20 | ||
If during the year the portfolio manager sells all of the holdings
of stock D and replaces it with 260,000 shares of stock E at $40
per share and 260,000 shares of stock F at $10 per share, what is
the portfolio turnover rate? (Round your answer to 2
decimal places.)