Answer:
The net asset value of the fund is $9.81.
Explanation:
Net Asset value is calculated by total net asset value of the portfolio divided by number of outstanding share.
Stock Shares Price Total Value
A 310,000 $35 $10,850,000
B 410,000 $40 $16,400,000
C 510,000 $15 $7,650,000
D 710,000 $20 $14,200,000
Total 1,940,000 $49,100,000
Net Assets = Total portfolio value - Liabilities
The only liability is the accrued management fee of $35,000.
Net Assets = $49,100,000 - $35,000 = $49,065,000
Net asset value = Net asset / total outstanding shares
Net asset value = $49,065,000 / 5,000,000 = $9.813 = $9.81
