Consider a universe of three equities with the following characteristics estimated over the period from August 8, 2016 to August 15, 2024

i. Enbridge: Expected return of = 7.72% ii. Royal Bank of Canada: Expected return of = 8.85% iii. Shopify: Expected return of = 33.03% iv. The inverse of the variance co-variance matrix of security returns V-1 is provided below 27.36 -23.69 -0.52 -23.69 46.02 -1.50 -0.52 -1.50 2.65 2. For the Global Minimum Variance (GMV) Portfolio determine the following (8 marks), i. The portfolio allocation of each security, ii. portfolio standard deviation and iii. portfolio expected return