Question

03: Calculate the year-end NAV of the Mutual Fund Scheme on the basis of the information given
1. UTI launched a new Fund scheme for ₹ 6,000 crore.
2. Underwriting Commission is 1% of the fund shared equally by SBI, PNB, Syndicate Bank and UTI Bank
3. The fund was launched on 1-4-2016 with a face value of ₹1,000 per unit.
4. Management Expense was allowed by SEBI @ 1% of the fund raised. However, during the year management expense was of ₹45 crore only. The management decided to defer the payment of ₹ 5 crore to the next financial year.
5. On 1-5-2016, the total fund received was invested after deduction of underwriting commission and 100 crore to meet the day to day management expenses. The investment fund received
yielded 10% interest per annum. The interest was received for 3 quarters and the interest of last quarter is yet to be received. The interest realised in cash has been distributed to the unit holders
@ 80%. The financial year runs from April to March. The quarter starts from the date of investment ie 1-5-2016​

Answer 1

Answer:

1- 66540,2-44623,3-9980,4-11456