A closed-end fund starts the year with a net asset value of $26.00. By year-end, NAV equals $26.40. At the beginning of
Posted: Sun Jul 03, 2022 6:56 am
A closed-end fund starts the year with a net asset value of$26.00. By year-end, NAV equals $26.40. At the beginning of theyear, the fund was selling at a 1% premium to NAV. By the end ofthe year, the fund is selling at a 5.5% discount from NAV. The fundpaid year-end distributions of income and capital gains of$2.00.
What would have been the rate of return to an investor who heldthe same securities as the fund manager during theyear? (Do not round intermediate calculations. Roundyour answer to 2 decimal places.)
What would have been the rate of return to an investor who heldthe same securities as the fund manager during theyear? (Do not round intermediate calculations. Roundyour answer to 2 decimal places.)