The composition of the Fingroup Fund portfolio is as follows:
Stock | Shares | Price | ||||
A | 200,000 | $ | 39 | |||
B | 284,000 | 32 | ||||
C | 408,000 | 28 | ||||
D | 680,000 | 35 | ||||
During the year the portfolio manager sells all of the holdings of stock D and replaces it with 200,000 shares of stock E at $50 per share and 230,000 shares of stock F at $60 per share.
What is the portfolio turnover rate? (Round your answer to 1 decimal place.)
