Question
In: Finance
The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 310,000 $...
The composition of the Fingroup Fund portfolio is as
follows:
| Stock | Shares | Price | ||
| A | 310,000 | $ | 35 | |
| B | 410,000 | 40 | ||
| C | 510,000 | 15 | ||
| D | 710,000 | 20 | ||
The fund has not borrowed any funds, but its accrued management fee
with the portfolio manager currently totals $35,000. There are 5
million shares outstanding. What is the net asset value of the
fund? (Round your answer to 2 decimal places.)
Solutions
Expert Solution
| Stock | Shares | Price | Market value |
| A | 310,000 | $ 35 | $ 10,850,000 |
| B | 410,000 | $ 40 | $ 16,400,000 |
| C | 510,000 | $ 15 | $ 7,650,000 |
| D | 710,000 | $ 20 | $ 14,200,000 |
| $ 49,100,000 | |||
| less: accrued expenses | $ (35,000) | ||
| Net asset value | $ 49,065,000 | ||
| Divided by shares outstanding | 5,000,000 | ||
| NAV per share | = | $ 9.81 |
Net asset value is $9.81 per share.
Please rate.
jeff jeffy answered 1 year agoRelated Solutions
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