Taxes and MMMFs In the previous problem, which MMMF offers you the highest yield if you are a resident of Texas, which has no state income tax?
Closed End Funds The Argentina Fund has $410 million in assets and sells at a 13.1 percent discount to NAV. If the quoted share price for this closed end fund is $18.43, how many share are outstanding? If you purchase 1,000 shares of this fund, what will the total shares outstanding be now?
Closed End Fund Discounts Suppose you purchase 5,000 shares of a closed end mutual fun at its initial public offering; the offer price is $28 per share. The offering prospectus disclose that the fund promoter gets an 8 percent fee from the offering. If this fund sells at a 12 percen discount to NAV the day after the initial public offering, what is the value of your investment?