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Find megafund turnover rate

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Reference no: EM132630810

MegaFund, which is an actively managed mutual fund that focuses on large capitalization stocks, had an average net asset value of $1.8 billion during 2019, with 20 million shares outstanding. During the year, the Fund sold securities worth $400 million and purchased securities worth $500 million. What was MegaFund's turnover rate during 2019? Would this turnover rate be considered to be high or low?

Reference no: EM132630810

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