On 1st April, Alpha Mutual Fund’s open-ended equity scheme had 200 lakh units outstanding with an Opening Net Asset Value (NAV) of ₹ 25.00 per unit.
The fund reported the following activity over the next two months:
April: The fund earned a total net income of ₹ 10 Lakhs during the month. At the end of April, the fund issued 5 lakh new units. The issue price is based on the Opening NAV plus a 2% entry load, adjusted for dividend equalization.
May: By the end of May, the cumulative income available for dividend equalization per unit was calculated to be ₹ 0.12. At the end of May, 2 lakh units were repurchased by the fund at the Opening NAV less a 1% exit load, adjusted for dividend equalization.
On 1st April, Alpha Mutual Fund’s open-ended equity scheme had 200 lakh units outstanding with an Op
AFM by CA Nikhil Monga
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