Corporate Fund started the year with a net asset value of $12.50
16. Corporate Fund started the year with a net asset value of $12.50. By year-end, its NAV
equaled $12.10. The fund paid year-end distributions of income and capital gains of
$1.50. What was the rate of return to an investor in the fund?
22. The New Fund had average daily assets of $2.2 billion in the past year. The fund sold
$400 million and purchased $500 million worth of stock during the year. What was its
turnover ratio?
24. You purchased 1,000 shares of the New Fund at a price of $20 per share at the beginning
of the year. You paid a front-end load of 4%. The securities in which the fund
invests increase in value by 12% during the year. The fund’s expense ratio is 1.2%. What
is your rate of return on the fund if you sell your shares at the end of the year?
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