City Street Fund has a portfolio of $432 million and liabilities of $12 million. Required: a. If there are 28 million shares outstanding, what is the net asset value? Net asset value $ 15 Per share b-1. If a large investor redeems 2 million shares, what happens to the portfolio value? (Enter your answer in dollars not in millions.) Portfolio value decreases to $ 402 X b-2. If a large investor redeems 2 million shares, what happens to shares outstanding? (Enter your answer in dollars not in millions.) Shares outstanding decreases ✓to $ 26 x

City Street Fund has a portfolio of $432 million and liabilities of $12 million. Required: a. If there are 28 million shares outstanding, what is the net asset value? Net asset value $ 15 Per share b-1. If a large investor redeems 2 million shares, what happens to the portfolio value? (Enter your answer in dollars not in millions.) Portfolio value decreases to $ 402 X b-2. If a large investor redeems 2 million shares, what happens to shares outstanding? (Enter your answer in dollars not in millions.) Shares outstanding decreases ✓to $ 26 x

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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