The New Fund had average daily assets of $2.2 billion in the past year. New Fund's expense ratio was 1.1%, and its management fee was 0.7%. Required: a. What were the total fees paid to the fund's investment managers during the year? (Enter your answer in millions rounded to 1 decimal place.) Total fees paid million b. What were the other administrative expenses? (Enter your answer in millions rounded to 1 decimal place.) Other administrative expenses million

The New Fund had average daily assets of $2.2 billion in the past year. New Fund's expense ratio was 1.1%, and its management fee was 0.7%. Required: a. What were the total fees paid to the fund's investment managers during the year? (Enter your answer in millions rounded to 1 decimal place.) Total fees paid million b. What were the other administrative expenses? (Enter your answer in millions rounded to 1 decimal place.) Other administrative expenses million

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter2: Descriptive Statistics

Section: Chapter Questions

Problem 17P: Suppose that you initially invested 10,000 in the Stivers mutual fund and 5,000 in the Trippi mutual...

See similar textbooks

Similar questions

The New Fund had average daily assets of $2.7 billion in the past year. New Fund's expense ratio was 1.6%, and its management fee was 1.4%. * Required: a. What were the total fees paid to the fund's investment managers during the year? (Enter your answer in millions rounded to 2 decimal places.) Total fees paid million b. What were the other administrative expenses? (Enter your answer in millions rounded to 2 decimal places.) Other administrative expenses million
$1,000 is invested in a fund at the beginning of the year. The fund rate of return is 8% for the first half of the year, and 10% for the second half. You are given the following methods of determining return, given the indicated transactions: Scenario Return Measure Midyear Transaction I Dollar-weighted $500 deposit II Dollar-weighted $500 withdrawal III Time-weighted $500 deposit IV Time-weighted $500 withdrawal Rank the rates of returns under these scenarios. A. I < II = IV < III B. II < III = IV < I C. III < I = II < IV D. IV < I = II < III E. None of these answers is correct.
The New Fund had average daily assets of $3.9 billion in the past year. If New Fund's expense ratio was 0.80% and the management fee was 0.70%. a. What were the total fees paid to the fund's investment managers during the year? (Enter your answer in millions. Round your answer to 1 decimal place.) Fees paid million b. What were the other administrative expenses? (Enter your answer in millions. Round your answer to 1 decimal place.) Other administrative expenses million
Please
An account invested in a money market fund grew from $73,265.45 to 73,554.71 in a month. What was the interest rate to the nearest tenth? What was the interest rate? (Do not round until the final answer. Then round to the nearest tenth as needed.)
Suppose an individual invests $40,000 in a load mutual fund for two years. The load fee entails an up-front commission charge of 3 percent of the amount invested and is deducted from the original funds invested. In addition, annual fund operating expenses (or 12b-1 fees) are 0.60 percent. The annual fees are charged on the average net asset value invested in the fund and are recorded at the end of each year. Investments in the fund return 5 percent each year paid on the last day of the year. If the investor reinvests the annual returns paid on the investment, calculate the annual return on the mutual fund over the two-year investment period. (Do not round intermediate calculations. Round your answer to 3 decimal places. (e.g., 32.161))) Annual return %
The New Fund had average daily assets of $5.8 billion last year. The fund sold $380 million worth of stock and purchased $475 million during the year. What was its turnover ratio? (Round your answer to 1 decimal place.) Turnover ratio 0.7 %
A closed-end fund starts the year with a net asset value of $31. By year-end, NAV equals $33.00. At the beginning of the year, the fund is selling at a 3% premium to NAV. By the end of the year, the fund is selling at a 8% discount to NAV. The fund paid year-end distributions of income and capital gains of $3.40. Required: a. What is the rate of return to an investor in the fund during the year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. What would have been the rate of return to an investor who held the same securities as the fund manager during the year? (Round your answer to 2 decimal places.)
A consultant advises that a fund pays out $100,000 at the end of 5 years. Provided $12,000 is invested in the fund at the start of each year, beginning immediately and continuing up to and including the investment at the start of year 5, what is the annual interest on this investment? What would be the equivalent uniform annual amount if the money was invested at the end of each year instead of the beginning? Clearly show your working methods and calculations.
A closed-end fund starts the year with a net asset value of $12. By year-end, NAV equals $12.10. At the beginning of the year, the fund is selling at a 2% premium to NAV. By the end of the year, the fund is selling at a 7% discount to NAV. The fund paid year-end distributions of income and capital gains of $1.50. Required: a. What is the rate of return to an investor in the fund during the year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Rate of return % b. What would have been the rate of return to an investor who held the same securities as the fund manager during the year? (Round your answer to 2 decimal places.) Rate of return %
An investment manager had a fund with a value of 100,000 on December 31, 2017. On June 30, 2018 that fund had dropped in value to 90,000 and a new deposit of 110,000 was received. On December 31, 2018 the account balance was 220,000. Find the time-weighted rate of return for 2018 Find the exact (to five decimal points) dollar-weighted rate of return for 2018
7. Consider the following table for the cash flows of an investment account: Time mm/dd/yy 01/01/2015 04/01/2015 08/01/2015 12/31/2015 Contribution -300 +2,000 (a) Calculate the TWRR and the DWRR of the fund. (b) Comment on the results. Fund value before contribution 1,000 500 250 2,800