An open-end fund has a net asset value of $10.70 per share.

An open-end fund has a net asset value of $10.70 per share.

11. An open-end fund has a net asset value of $10.70 per share. It is sold with a front-end
load of 6%. What is the offering price?

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13. The composition of the Fingroup Fund portfolio is as follows:
Stock Shares Price
A 200,000 $35
B 300,000 40
C 400,000 20
D 600,000 25
The fund has not borrowed any funds, but its accrued management fee with the portfolio
manager currently totals $30,000. There are 4 million shares outstanding. What is
the net asset value of the fund?

15. The Closed Fund is a closed-end investment company with a portfolio currently worth
$200 million. It has liabilities of $3 million and 5 million shares outstanding. (LO 4-3)

a. What is the NAV of the fund?
b. If the fund sells for $36 per share, what is its premium or discount as a percent of NAV?

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