[6 Marks] 2) In a particular year, Hoody Mutual Fund made investments in the following asset classes. Actual return Bonds 3% Actual weight 30% 60% 10% Stocks Cash 10% 1% The benchmark portfolio (i.e. the bogey) has the following characteristics: Benchmark weight Index return Bonds (Baclay Bond Index) 50% 2% Stocks (S&P 500) 40% 6% Cash (money market) 10% 1% a) Calculate the average returns of Hoody Mutual Fund and the benchmark portfolio in the year. [2 Marks] b) Calculate the total excess return of Hoody Mutual Fund over the benchmark portfolio. [2 Marks] c) Calculate the contribution of sector and security selection to relative performance. [5 Marks) d) Calculate the contribution of asset allocation to relative performance. [5 Marks]