Problem:
The composition of the Fingroup Fund portfolio is as follows:
Stock Shares Price
A 240,000 $30
B 340,000 $35
C 440,000 $10
D 640,000 $15
The fund has not borrowed any funds, but its accrued management fee with the portfolio manager currently totals $35,000. There are 6 million shares outstanding.
Required:
Question: What is the net asset value of the fund?
Note: Please explain comprehensively and give step by step solution.