Whats its turnover ratio, An open end mutual fund has

Whats its turnover ratio

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Reference no: EM13872101

An open end mutual fund has average daily assets of $3.4 billion during the year. It sold $1.25 billion worth of stocks and bought $1.4 billion worth of stocks during the year.

a) What’s its turnover ratio?

b) Explain the difference between an open end fund and a closed-end fund.

Reference no: EM13872101

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