What is the rate of return to an investor in the fund

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Problem - A closed-end fund starts the year with a net asset value of $31. By year-end, NAV equals $33.00. At the beginning of the year, the fund is selling at a 3% premium to NAV. By the end of the year, the fund is selling at a 8% discount to NAV. The fund paid year-end distributions of income and capital gains of $3.40.

Required - What is the rate of return to an investor in the fund during the year?

Reference no: EM132464680

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