1. The composition of the 49er Fund portfolio is as follows: The fund has not borrowed any funds, but its accrued management fee with the portfolio manager currently totals $100,000. There are 2 million shares outstanding. What is the net asset value (NAV) of the fund? ( 2 points) NAV= (round to two cents, e.g. \$12.34) 2. Reconsider the 49er Fund from #1 above. If during the year the portfolio manager sells all of holdings of stock D and replaces it with 200,000 shares of stock E at $70 per share and 400,000 of stock F at $25 per share, what is the portfolio turnover rate? ( 3 points) Turnover = (round to two decimals, e.g. 12.34\%) 3. The 49er Fund offers Class A and Class B shares. Class A shares charge a 12b−1 fee of 1% and maintains an expense ratio of 0.75%. Class B shares charge a front-end load of 2%, a 0.25%12 b 1 and has an expense ratio of 0.25%. Assume the rate of return on both funds' portfolios (before any fees) is 7% per year. How much will an investment of $10,000 be worth in each Class after 6 years? (5 points) Class A=…
Class B=…
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(round to whole dollar, e.g. $12,345 ) (round to whole dollar, e.g. $12,345 ) ​
4. The Piedmont Fund sells Class A with a front-end load of 4% and Class B shares with 12 b−1 fees of 0.75% annually as well as back-end load fees that start at 5% and fall by 1% for each full year the investor holds the portfolio (until the fifth year). Assume both Class A and Class B shares have an annual 0.25% management fee and a portfolio rate of return net of operating expenses of 8% annually. How much will an investment of $10,000 be worth in each Class after 3 years? (5 points) Class A= (round to whole dollar, e.g. $12,345 ) Class B= (round to whole dollar, e.g. $12,345 )