NO.PZ202411040100000203
问题如下：
Q. Discuss why Glidestone’s NAV increases by EUR5 million between the ends of Years 3 and 4 using observations about fund distributions.选项：
解释：
Because Glidestone distributes only EUR10 million in Year 4 rather than the EUR30 million of cash flow generated, the extra EUR20 million is added to the fund’s NAV. However, the exit of the original EUR15 million investment reduces the NAV such that the overall value increases by EUR5 million.
the exit of the original EUR15 million investment reduces the NAV such that the overall value increases by EUR5 million.请问这个是从哪看出来的