The composition of the Fingroup Fund portfolio is as follows:
Stock | Shares | Price | ||||
A | 200,000 | $ | 41 | |||
B | 270,000 | 53 | ||||
C | 415,000 | 35 | ||||
D | 530,000 | 40 | ||||
During the year the portfolio manager sells all of the holdings of stock D and replaces it with 200,000 shares of stock E at $65 per share and 82,000 shares of stock F at $100 per share.
What is the portfolio turnover rate? (Round your answer to 1 decimal place.)
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