Suppose that the benchmark index for a portfolio manager is the Lehman Brothers Aggregate Bond Index. That

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Suppose that the benchmark index for a portfolio manager is the Lehman Brothers Aggregate Bond Index. That bond market index includes only investment grade. Suppose that the portfolio manager decides to allocate a portion of the portfolio's fund to high-yield bonds. What would you expect would happen to the forward-looking track- ing error due to quality risk?

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