Fund A had an alpha and a betaaccording to the CAPM regressionof 0.35 and 1.65,respectively. What best interpret those results?

a.Fund A had excess risk adjusted returns over its benchmark and its returns are amplified by market movements

b.Fund A had not delivered excess risk adjustedreturns over its benchmark and its returns are amplified by market movements

c.Fund A had excess risk adjustedreturns over its benchmark and its returns are not sensitive tomarket movements

d.Fund A had not delivered excess risk adjustedreturns over its benchmark and its returns are not sensitive to market movements