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A mutual fund's strategic goal is to allocate 72 percent of its portfolio to stocks and 16 percent to bonds, with the remainder being invested

A mutual fund's strategic goal is to allocate 72 percent of its portfolio to stocks and 16 percent to bonds, with the remainder being invested in cash. At the beginning of the current reporting period the actual portfolio weights were 67 percent in stocks and 15 percent in bonds, and the rest invested in cash. The fund's stock portfolio earned 12.89 percent while the stock index the fund benchmarks against earned 13.26. The fund's bond portfolio earned 5.98 percent and during that same period the bond index earned 4.84. The cash rate was 2.72 during the period. What was the contribution of stock selection to the funds performance relative to benchmark? (Answer in percent.)

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