Consider the following trading and performance data for four different equity mutual funds: Fund W...
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Consider the following trading and performance data for four different equity mutual funds: Fund W Fund X Fund Y Fund Z Assets under Management, $284.4 $667.6 $1,293.0 $5,553.6 Avg. for Past 12 months (mil) Security Sales, $42.4 $574.9 $1,456.8 $437.7 Past 12 months (mil) Expense Ratio 0.33% 0.68% 1.16% 0.24% Pretax Return, 3-year avg. 9.95% 10.70% 10.50% 9.88% Tax-adjusted Return, 3-year avg. 8.90% 8.76% 9.63% 9.38% a. Calculate the portfolio turnover ratio for each fund. Do not round intermediate calculations. Round your answers to two decimal places Fund W: % Fund X: % Fund Y: % -Select- Fund Z: % b. Which two funds are most likely to be actively managed and which two are most likely passive funds? are most likely passively managed portfolios; -Select- most likely to be actively managed. c. Calculate the tax cost ratio for each fund. Do not round intermediate calculations. Round your answers to two decimal places. % e are Fund W: Fund X: % Fund Y: % Fund Z: % d. Which funds were the most and least tax efficient in the operations? -Select- were the most tax efficient and -Select- efficient were the least tax
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