A survey of over 200 European fund managersconducted in 2008 and published in the Hedge Fund Journal (May 2008) revealed that a wide range of portfolio performance measures were being employed, and often more than one at a time. (a) The single most popular B based performance measure was Jensen's Alpha. Compare and contrast this metric with two other well-known [3 based measures, the Tsquared and the Treynor measures. (15 marks) (b) The single most popular measure was Sharpe's ratio, used by around 80% of fund managers, but around 70% also used the Information ratio. Define these two measures and calculate their values for the funds below, together with the funds' rankings. In all cases assume the market (MKT) is the benchmark, with a mean return of 3%, and that. the risk free rate is a constant 1%. Fund returns [Fund return MKT return Asia SD: 4.8% _ 5.0% SD: 9.9% SD: 10.0%