4. Suppose that you are the manager of an investment fund that consists of a weil diversitied portiolio of FTseto0 shares. On February 25 your fund is valued at E10 million, at which time you decide to hedge the fund by opening short FISE100 futures contracts for delivery in 50 days. You subsequently decide to close your futures position on March 25, l.e. 28 days after opening the position. Using the data given in the table below, and assuming that the year has 365 days, estimate the following: a) the fair forward value of the index on February 25. b) the fair forward value of the index on March 25 . c) the number of short futures contracts that should be opened on February 25 in order to fully hedge your portiolia. (2 marks) (2 marks) (1 marks) 3 of 5 d) the value of the share portiolio on March 25. (1 marks) e) the profit or loss made from the futures contracts (1 marks) when they are closed on March 25. f) the final combined value of the portiolio (1 marks) of shares and the profit from the futures contract. g) the annual rate of retum achieved by the futures ( 2 marks) investment, assuming that the initial margin deposit is 10% of the contract value and that this deposit recelves no interest