Answer:
The net asset value of the fund is $12.24 per unit.
Explanation:
Net asset value is the amount of total asset minus total liability associated with those asset. In this question total value of the portfolio is the value of asset and management fee is liability.
Stock Shares Price Value
A 370,000 $35 $12,950,000
B 470,000 $40 $18,800,000
C 570,000 $10 $5,700,000
D 770,000 $15 $11,550,000
Total $49,000,000
Total Asset Value = $49,000,000
Total Liability = $35,000
Net Asset value = $49,000,000 - $35,000 = $48,965,000
Net Asset value per share = $48,965,000 / 4,000,000 = $12.24 per share
