The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 320,000 $ 40 B 420,000 45 C 520,000 10 D 720,000 15 The fund has not borrowed any funds, but its accrued management fee with the portfolio manager currently totals $40,000. There are 6 million shares outstanding. What is the net asset value of the fund

The correct answer is $7.94.

Explanation:

According to the scenario, the computation of the given data are as follows:

Total value of shares = ( 320,000 × $40 ) + ( 420,000 × $45) + (520,000 × $10) + 720,000 × $15)

= $12,800,000 + $18,900,000 + $5,200,000 + $10,800,000

= $47,700,000

So we can calculate the net asset value by using following method:

Net asset value = (Total value - Expenses ) ÷ Shares Outstanding

By putting the value, we get

= ( $ 47,700,000 - $ 40,000) ÷ $6,000,000

= $7.94

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