The following information is available for a close ended fund for the last 12 months.
|
Month |
NAV at the end of the Month () |
Premium (Discount at the end of Month %) |
| January (beginning)
January February March April May June July August September October November December |
10.00 10.25 11.75 9.25 10.15 11.25 11.95 12.25 11.90 12.30 11.75 10.95 11.75 |
0.0 – 4.00 – 4.35 – 2.35 – 1.05 – 4.75 – 2.50 – 6.50 – 4.35 – 6.92 – 4.25 – 1.25 – 1.05 |
Return on the Market Index for the 12 months is 10.45%. If an investor has bought 100 units of this mutual fund at the beginning and sold at the end of the year, calculate his annual return and comment.
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