A mutual fund has total assets outstanding of $69 million.During the year the fund bought and sold assets equal to $17.25 million.This fund's turnover rate was _____.

Question

Quizplus · Accepted Answer

The turnover rate is calculated by dividing the total amount of assets bought or sold by the fund during the year by the total assets outstanding. Here, $17.25 million / $69 million = 0.25 or 25.00%.

A Mutual Fund Has Total Assets Outstanding of $69 Million