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A mutual fund has total assets outstanding of $79 million and debt of $6.72 million. During...

A mutual fund has total assets outstanding of $79 million and debt of $6.72 million. During the year the fund bought and sold assets equal to $17.57 million. This fund's turnover rate was _____.

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Answer #1

Fund turnover Ratio is calculated by taking either the total amount of new securities purchased and securities sold over a particular period, divided by the total net asset value (NAV) of the fund.

Particulars
A Total Assets Outstanding $ 79 Million
Less: Debt $ 6.72 Million
Net Assets Value $ 72.28 Million
B Assets Brought and Sold during the year $ 17.57 Million
C Fund's Turnover Ratio = (B/A) = $ 72.28 Million/ $ 17.57 Million
= 0.243082 = 24.31%
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