Net asset value at the start and end of the year

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Q. Consider a mutual fund with $720 million in assets at the start of the year and with 10 million shares outstanding. The fund invests in a portfolio of stocks that provides dividend income at the end of the year of $3.5 million. The stocks included in the fund's portfolio increase in price by 6%, but no securities are sold, and there are no capital gains distributions. The fund charges 12b-1 fees of 1.00%, which are deducted from portfolio assets at year-end. What is the net asset value at the start and end of the year?

Reference no: EM136565

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