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20 August, 21:24

Eastern states mutual fund sold $82.5 million of assets during the year and purchased $93 million of new assets. the average daily assets of the fund were $330 million. what is the fund's turnover rate for the year?.25

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  1. 20 August, 21:31
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    Mutual fund sold $82.5 million

    Mutual fund purchased $93 million

    Average daily assets of the fund $330 million

    The turnover rate for the year = mutual fund sold / average daily assets

    Turnover = $82.5 million / $330 million = 1 / 4 = 0.25
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