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  • 25-12-2020
  • Business
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City Street Fund has a portfolio of $450 million and liabilities of $10 million. a. If there are 44 million shares outstanding, what is the net asset value

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Ritmeks
Ritmeks Ritmeks
  • 26-12-2020

Answer:

10

Explanation:

City street fund has a portfolio value of $450 million

Liabilities is $10 million

Outstanding shares is 44 million

Therefore the net asset value can be calculated as follows

Portfolio value-liabilities/no of shares outstanding

= 450 million-10million/44 million

= 440 million/44 million

= 10

Hence the net asset value is 10

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