1. A balanced portfolio of stocks and bonds is measured against a benchmark that is 60% the S&P 500 and 40% the Barclays Aggregate bond index. The portfolio has had an average weighting in stocks of 70% for the last quarter and its stock holdings have returned 12% vs. 10% for the S&P 500. The combined 60% S&P 40% Barclays benchmark was up 5% in the quarter.

   What was the asset allocation/ sector allocation impact of the portfolio being overweight stocks in percentage (basis points) terms?

   		+5% (500 basis points)
   		+2% (200 basis points0
   		+0.50% (50 basis points)
   		-0.50% (- 50 basis points)