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  3. the balance mutual fund raised 500 on 1 st april,

The Balance Mutual Fund raised 500 on 1 st April, 2020 by issue of 5...

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Accounting

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The Balance Mutual Fund raised 500 on 1 st April, 2020 by issue of 5 units of 100 per unit. The fund invested in several capital market instruments both in debt and equity to build a portfolio of 475 . The initial expenses amounted to 12. During the financial year 2020-2021, the fund sold certain securities of cost 200 for 215 . Fund further invested in shares for 60 on 1st June, 2020 and purchased certain other securities for ' 70 on 30 th September, 2020. Determine the NAV of the fund at 31.3.2021. During the financial year, the fund management expenses on an average amounted to "3.50 per month of which" 3.50 was in arrears at the end of the year. The dividend earned during the period was 20. 60% of the realized earnings were distributed. The market value of the portfolio on 31.3.2021 was 525

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