1. One year ago, Super Star Closed-End Fund had a NAV of $10.40 and was selling at an 18% discount. Today, its NAV is $11.60 and is priced at a 4% premium. During the year, the fund paid dividends of $.40 per share and had a capital gain distribution of $.95 per share.
A. Calculate Super Star's NAV-based HPR for the year.
B. Calculate Super Star's market-based HPR for the year.
C. Recalculate Super Star's market-based HPR for the year, assuming the beginning and ending NAVs remained the same but that the fund started the year at an 18% premium and ended it with a 4% discount.
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