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Question
A hedge fund has $150 million in assets at the beginning of the year and 10 million shares outstanding throughout the year. Throughout the year assets grow at 12%. The fund charges a 3% management fee on the assets. The fee is imposed on year-end asset values. What is the end-of-year NAV for the fund?
A. $15
B. $15.60
C. $16.30
D. $17.55
Answer
This answer is hidden. It contains 1 characters.
Related questions
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Q:
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D. The answer cannot be determined from the information given.