A mutual fund had year-end assets of $521,000,000 and liabilities of $63,000,000. If the fund NAV was $26.12, how many shares must have been held in the fund?

Question

Quizplus · Accepted Answer

The Net Asset Value (NAV) is calculated as (Assets - Liabilities) / Number of Shares. Here, the net assets are $521,000,000 - $63,000,000 = $458,000,000. The number of shares is $458,000,000 / $26.12 = 17,534,456.

A Mutual Fund Had Year-End Assets of $521,000,000 and Liabilities