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Consider the following information regarding the performance of a money manager in a recent month. The table presents the actual return of each sector of

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Consider the following information regarding the performance of a money manager in a recent month. 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) (1) (2) (3) (4) Actual Actual Benchmark Index Return Weight Weight Return Equity 3.1% 0.70 0.50 3.9% (S&P 500) Bonds 2.6 0.10 0.30 2.8 (Aggregate Bond Index) Cash 1.9 0.20 0.20 1.9 What was the contribution of asset allocation to relative performance? (Do not round intermediate calculations. Enter your answer as a decimal rounded to 4 decimal places.)

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