Published 11.05.2018 on subject Business by Guest

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 funds turnover rate for the year? .25

Answered by Guest

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

Answered by YUSUF

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?