Multiple Choice
A mutual fund had average daily assets of $4.0 billion in 2018. The fund sold $1.5 billion worth of stock and purchased $1.6 billion worth of stock during the year. The fund's turnover ratio is
A) 37.5%.
B) 22%.
C) 15%.
D) 45%.
E) 20%.
Correct Answer:
Verified
Correct Answer:
Verified
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