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1. Fair treatment of clients requires that IPO shares are distributed on a pro rata basis-the number of shares allocated to the investment manager are allocated to appropriate client portfolios in proportion to the size of the client's portfolio. Client portfolios are deemed appropriate if the IPO fits the risk-return and other investment characteristics specified in each client's investment policy statement.
An alternative allocation could be equal distribution. The following questions allow you to think about the ethical issues in allocating IPOs to client accounts Suppose a manager is allocated 4,000 shares of an IPO offered at $20 a share but closes at $25 a share on the first day of trading. The manager identifies three client accounts that are appropriate for the IPO allocation. These accounts are in the amount of $1 million, $5 million, and $10 million. The manager plans to take whatever amount is needed out of the account to provide the client with the IPO allocation at the IPO offer price. Assume that all of the assets remaining in all three accounts earn 10 percent. Calculate the return to each account depending on whether the shares are allocated equally or on a pro rata basis. Which method do you think is most equitable, and why?
Projected fixed costs are $742,000 and the anticipated annual operating cash flow is $211,000. What is the degree of operating leverage for this project?
Explain how earnings per share, dividends per share, and book value per share are calculated, and what they mean. Why does the market price per share not equal the book value per share?
Explain decision making on the basis of the net present value criterion and profitability index of a project with a net investment of $20,000
Advise what procedure is involved and the associated costs to obtain a copy of your own file from each of these agencies on both an urgent and a non urgent basis and can a free copy be obtained - What are the Lender's legal obligations if they decl..
inventory continues to be a challenge for healthcare managers. using the fifo and lifo methods of inventory analyze the
this week you will assess the recent acquisitions of your selected firm. use print and online sources to collect
Your firm has a net cash inflow for the quarter of $75. The beginning cash balance is $35. Company policy is to maintain a minimum cash balance of $15 and borrow only the amount that is necessary to maintain that balance. How much does your firm ..
Compute the return on stockholders' equity if the company has sales of $20 million and the following net profit margin: a. 3 percent b. 5 percent
Assuming you have equal confidence in the inputs used for the three approaches, what is your estimate of Carpetto's cost of common equity? Round your answer to two decimal places.
Also, how does your personal ethical perspective on discrimination- intentional or unintentional- compare to the culture of a particular group to which you currently belong, or previously belonged?
why do organizational structures differ? what is the difference between a mechanistic structure and an organic
Atlantic Airlines has a profit before taxes of $1 million flying at 80% of capacity with revenue of $100 million, fixed cost of $69 million and variable cost of $30 million.
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