cements ents Resources Question 25 The table presents the actual return of each sector of the manager's portfolio in column (1), the fraction of the portfolio allocated to each sector in column (2), the benchmark or neutral sector allocations in column (3), and the returns of sector indexes in column 4. Equity Bonds Cash 1 Actual Return 15% 9% 2% Overperformance = 0.87% O Underperformance of 0.39% Overperformance of 0.39% O Underperformance = 0.87% E 2 Actual Weight 0.70 0.20 0.10 3 Benchmark Weight 0.50 0.40 0.10 What was the manager's over- or under-performance for the period? 4 Index Return 15.5% 9.2% 4 pts 2%

The table presents the actual return of each sector of the manager's portfolio in column (1), the fraction of the portfolio allocated to each sector in column (2), the benchmark or neutral sector allocations in column (3), and the returns of sector indexes in column 4. What was the manager's over- or under-performance for the period? Overpertormance =0.87% Underperformance of 0.39% Overperformance of 0.39% Underperformance =0.87%