Net asset value, beginning of period: $58.60 $52.92 Income from investment opera

Question

Net asset value, beginning of period: $58.60 $52.92 Income from investment operations: Net investment income $1.39 $1.35 Net gains on securities (realized and unrealized) 8.10 9.39 Total from investment operations $9.49 $10.74 Less distributions: Dividends from net investment income ($ .83) ($1.24) Distributions from realized gains (2.42) (3.82) Total distributions (3.25) (5.06) Net asset value, end of period: $64.84 $58.60 Use this information to find the rate of return earned on this fund in 2014 and in 2015. What is the assessment of the investment performance of this fund for the 2014-2015 period?

Explanation / Answer

2014 2015 NAV 52.92 58.6 income from investment operation 10.74 9.49 rate of return 20.29478 percent 16.19454 percent 2014 2015 NAV IN BEGENING 52.92 58.6 NAV IN THE END OF YEAR 58.6 64.84 CHANGE IN NAV 0.107332 10.73% 0.106485 10.64%

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