A mutual fund had year-end assets of $437,000,000 and liabilities of $37,000,000. If the fund NAV was $60.12, how many shares must have been held in the fund?

Question

Quizplus · Accepted Answer

To find the number of shares, divide the net assets (assets minus liabilities) by the NAV. Net assets = $437,000,000 - $37,000,000 = $400,000,000. Shares = $400,000,000 / $60.12 ≈ 6,653,360.

A Mutual Fund Had Year-End Assets of $437,000,000 and Liabilities