b) Lebanon Investments, a company incorporated in Zambia is a renowned fund management company that specializes in off-shore investments in equity, treasury bills and fixed income securities. As Investment Manager, you have been asked to provide a performance analysis of the investments over the last one year and to make any necessary comments. To help you with the analysis, the information in the Tables below has been provided outlining performance of our managed portfolio Tyre Limited) and that of the benchmark portfolio (Sidon Consolidated). Sidon Consolidated Component Equity Bonds Treasury bills Weight (%) 50 35 15 Return of index(%) 12 9 6 Tyre Limited Component Equity Bonds Treasury bills Weight (%) 70 20 10 Return of index (%) 10 13 Required i) Calculate the excess return of the managed portfolio against the benchmark and explain the meaning of the excess, clearly stating whether the performance was favourable or unfavourable- show all your workings. (3 marks) ii) From the above, analyse the performance of Tyre Limited and clearly state what portion of performance was attributed to: - Asset allocation - Selection of instruments (returns) - (6 marks)