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What is the portfolio turnover of a fund supposed to mean?

April 26, 2017fund mean portfolio turnover

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What is the portfolio turnover of a fund supposed to mean?

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A measure of the amount of buying and selling activity in a fund.Turnover is defined as the lesser of securities sold or purchased during a year divided by the average of monthly net assets. A turnover of 100 percent, for example, implies positions are held on average for about a year.