"sa i Non-performing, (21) Performing f a aie 26) . a (22) Brokerage, (23) Vilth, (24) Net Asset Vatue. the columns ; ve 1 —Fyutwal Funds atch ¥ Column * td ied L-—Gjose End Fund $ s fans. :(1-¢). 2-8), 3b), 4-@), G0), L 1 2. 3. 4. 3 6. 1. re ar vie “Coloma 2) _ Stipulated Maturity Pericu High Income - | Column ‘A* Formulation of scheme M.-F. may be No loan fund Tai Fd 4 NAV of MF. ¢) Included in Annual / Report Balance Sheet mn) Carried to Reserve for Unrealised Gain Appreciation in Investment )__ Average cost h) Function of MF ___fAns.: (1h), 2-9), (3-6) (4-0), 6-4), 6-6), 7-9) Column ‘A Column “B" 1,__Investment carried in Balance sheet 4) _Non-performing Investment Interest on Debt securities ») __ Part of cost of Investment No retum provided T ©) _ 8° schedule of SEBI Performing Investment 4) Recognised on Accrual basis Brokerage Valuation Norms 18.2 Practical Problems (Back End and Front End load) Achule Mutual Fund has current NAV of ® 27 and sales or entry or Front end toad is 1.80% where as exit load or back end load or repurchase load is 1.50%. Find out sale price/ Public Offer Price and L Repurchase or redemption price. [Ans. : 27.486; 26.595] The unit price of TSS Scheme of MF is & 10. redemption price is & 9.80. Calculate — i) Frond end load ii) Back end load [Ans. : (i) 2% (ii) 2.04 %] (Calculation of NAV) és 3 Market value of investments of BMS mutual fund Growth scheme is % 78,75,200 as on 31" March, 2009, as against this it had external liabilities of % 12,25,470. Compute Net Asset value of the units 3. assuming that there are in all 2,50,000 units held under the scheme. [Ans. : % 26.60 per unit} [Ams. : (1 —h), (2d), (3a), 4-9, (65 ~b), (6~c),(7-e)} The public offer price of the units is Rs. 10.204 and theCee 252 ero Financial Accounting ee Investment eT S,009 Liabilities 709 Debtors i 400 Other current assets 1200 Outstanding expenses Be: No of outstanding units ——9 (Ans. : € 29] 5.__ Ms Shailaja is the manager of progressive M. F. scheme : a ae a es es toto Scheme size Pa Face value per unit 50,00,00,004 Calculate NAV [Ans, : © 29] 6. On I" Oct, 2017 Promising Return M. F. has the following assets and prices. aa a Company shares _| per share R : 20,000 18.50 T, Cost Conscious Ltd 70,000 aad 2. Savings conscious Ltd 20000 268 3. Investment conscious Ltd x mee 1,50,000 375.60 4. Pradent Ltd e000 ie 5. Promising Ltd. - :) No of units 3,00,000 Calculate NAV [Ans. : & 399.98 per unit} 7. Calculate NAV from the following information : Market value of investment 90,00,00 Cash in hand 5,00,000 Receivables for securities sold 3,00,00g Dividend Accrued 8,00,00 Payable for securities purchased 6,00,000 Management expenses payable 5,00,000 Shares in issue 9,00,00 Calculate NAV [Ans. : & 10.55 per unit] 8. _M.F- has the following assets on the close of business as on. ‘Company No. Co. of 1s March, 2018 ‘2nd March, 2018 shares M.P. Per Share M.P. Per Share L&T Ltd. 20,000 20 20.50 Asian Paints 30,000 312.40 360.00 Hindal Co. 20,000 361.20 383.10 TCL 60,000 505.10 503.90 © Total No of units 5,00,000 units Calculate NAV [Ans. : NAV % 94.604 per unit] 9. Refer to the above problem 8 Assume that Mis Tilottama Submits a cheque of 30,00,000 to the Mutual Fund. The manager oft Fund purchases 8,000 shares of Asian Paints and the balance is held in a Bank. Find out NAV 00! March, 2018. [Ans. : No of units 5,31,711, NAV 97.99]No of units issued by yap i) Calculate NAY of; ii) Ms Payal a invest 48 6,00, the Fy a2 Sno 7,000 shares of R Lg" and pejcheaue of 30,00 position of the fund? lance amo ie no to the iii) Calculate New Na: Id eee M F. The fund Manager purchases a Xe ; In Such a ¢; what would be the Hs Gi) 94 gg) 18 informa V of : G) ® 78.84 ; (ii) 638.095 ind ‘ Calculate NAY from the foligys 1, CanBank Mutual Faing launched or natin Underwriting com, a Mission is 19% 1900 crore, Date of launching of the fr ” nee fund. tw, il 3 88 aid 4, Fave value & 1,060 per uni mee ta 5, Management expenses 195 p 6, During the year expenses of nt id raise, the payment of’ 25 crores BEMEN Were & 4s or i Crores On 1" May total fund aaa a financial year Only. The management decided to defer deducting underwrti Inter Teceived for 3 qieememt Expenses, The fender realised in cash has been starts from the date of [Ans. : NYP 19} ng Commission and % 190 » The Investment F; r lent Fund f cen distri mae one of Nast qi bin eee interest, Investment is 1% Me TS at 80%, Fy. jg 4 April to 31" Marc sted shares at cost ash in hand onds and debentures at cost (these, bonds not listed and quoted Securities at cost (ex-dividend mount payable on shares xpenditure accrued umber of units (® 10 face value) resent Index is alue of listed bonds and debenture ‘There has been a diminution of cost, [Ans. : NAV 2 271.30 3, Calculate the NAV of a rej i ‘gular income scheme on Per unit basis of Red Bull mutual fund from th following information : isted shares at cost (ex-dividend) ‘ash in hand londs and debentures at cost (ex-interest) A these, bonds not listed & not quoted ther fixed interest securities at cont accrued mount payable on shares s ji Bf llted bonds & debentures at NAV date 4 ![Ans. X 2% Y 9% Z 8.49%] A has invested in thr ZS. 15,00,000 12.50 ee Mutual Fund Schemes as per detailed below : a Particulars MFA MFB MFC Date of Investment 1-12-2016 1-1-2017 1320p Amount of Investment = 50,000 z oe ce 50,000 Net asset value (NAV) at entry date = 10.50 U0Sa eoT—_____s ww J upto 31.3. s Grae 31.3.2017 nll Sn ; » t i500 mw T1010 t 9.80 mach of the three schemes to + C~ 24% is of fo $7 $3 sa ‘The expected retum on market folio is 10% with § re Evaluate the portfolios and sugges the bese SD of 4. The Rris Ans. : Portfolio C is best} ra , Compute Ratio on the basis of fol lio. Evaluate the portfolio and suggest the [Ans. : Z is better] Seat pertho Compute Treynor Ratio of the basi cone ya is of the results of four porfolios managers for a $ year period given Portfolio Manager T x > : Mr. Cautious age Return (") Beta t Mr. Venturesume + 7 0 Mr. Aggressive I 18 1 8 s Mr. Prudent I 16 30 Evaluate the performance of the four managers. [Ans. : ‘Prudent is best’] 77. Refer to the above Problem 26. Calculate Jenson’s Alpha. Select the abe ie Ipha. Select the manager with best performance, 28. Compute Treynor Ratio on the basis of the results of fe fol i eee Ts of four portfolios managers for a period of $ years. (Ry = 10%; R,, 16%) Portfolio Manager Evaluate the performance of the four managers : [Ans. : ‘Divya best’) 28. Refer to the above problem and calculate Jenson’s Alpha. Select the manager with best performance. {Ams. : “Divya best’] 30. Ramesh Goyal has invested in three mutual funds. From the details given below, find out effective yield on per annum basis in respect of each of the schemes to Ramesh Goyal upto 31.3.2018. Mutual Fund x ¥ Zz received upto 31.3.2018 (®) AAV as on 31.3.2018 @) Ans. : X : 2.84%; Y : 10.03%; Z: 23.55%]