City Street Fund has a portfolio of $490 million and liabilities of $10 million.
a. If there are 30 million shares outstanding, what is net asset value?
Net asset value $
b-1. If a large investor redeems 1 million shares, what happens to the portfolio value? (Enter your answer in millions.)
Portfolio value (Click to select)increasesdecreases to $ million.
b-2. If a large investor redeems 1 million shares, what happens to shares outstanding? (Enter your answer in millions.)
Shares outstanding (Click to select)increasesdecreases to million.
b-3. If a large investor redeems 1 million shares, what is net asset value?
Net asset value $