On 1st April, an open ended scheme of mutual fund had 400 lakh units outstanding with Net Assets Value (NAV) of 19. At the end of April, it issued 5…
CA Final · Advanced Financial Management · RTP · May 2026
On 1st April, an open ended scheme of mutual fund had 400 lakh units outstanding with Net Assets Value (NAV) of 19. At the end of April, it issued 5 lakh units at an opening NAV plus 2% load, adjusted for dividend equalization. At the end of May, 4 Lakh units were repurchased at the opening NAV less 2% exit load adjusted for dividend equilization. At the end of June, 60% of its available income was distributed. In respect of April-June quarter, the following additional information is available: Particulars ₹ in Lakhs Portfolio value appreciation 515.67 Income of April 31.960 Income of May 46.125 Income for June 58.470 You are required to calculate: (i) Income available for distribution;
Suggested Answer and Working Notes:
Calculation of Income available for Distribution Units (Lakh) Per Unit (₹) Total (In lakh) Income from April 400 0.0799 31.960 Add: Dividend equalization collected on issue 5 0.0799 0.3995 405 0.0799 32.3595 Add: Income from May 0.1139 46.1250 405 0.1938 78.4845
Topics: Mutual Fund
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