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Question 4 A Mutual Fund raised 100 lakh on April 1, 2009 by issue of...

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Question 4 A Mutual Fund raised 100 lakh on April 1, 2009 by issue of 10 lakh units of 10 per unit. The fund invested in several capital market instruments to build a portfolio of 90 lakhs. The Initial expenses amounted to 7 lakh. During April, 2009, the fund sold certain securities of cost 38 lakhs for 40 lakhs and purchased certain other securities for 28.20 lakhs. The fund management expenses for the month amounted to 74.50 lakhs of which 0.25 lakh was in arrears. The dividend earned was 1.20 lakhs. 75% of the realized earnings were distributed. The market value of the portfolio on 30.04.2009 was 101.90 lakh. Determine NAV per unit. (8 Marks November, 2009)

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