1) Based on the performance and information of the two funds below, Lenora concludes that the market is semi-strong efficient. Please judge whether her statement is correct or not and give reasons for your answer. (3 marks)

	Performance (Return in percentage)	Management Fee (in percentage)
Fund A	12%	0.2%
Fund B	12%	1.1%

2) Lara uses put-call ratio to gauge the overall sentiment in the Australian equity market. Based on the current put-call ratio of 1.2, Lara buys stocks in the market. What is the best terminology to describe Laras strategy (i.e. contrarian or momentum) and explain your answers?