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30..A fund with capital of $100m makes a 1.25 times leveraged investment of $125m in stocks with an average beta of 1.2, it partially hedges

30..A fund with capital of $100m makes a 1.25 times leveraged investment of $125m in stocks with an average beta of 1.2, it partially hedges this by selling $75m notional value of index futures (which have a beta of 1.0). What is the gross exposure and the beta adjusted net exposure of the fund?

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