Georgina, a pension fund manager at Sanlam, is considering two risky portfolios. The first is an equity portfolio with an expected return of 8% and a standard deviation of 22% while the second is a debt portfolio with an expected return of 4% and a standard deviation of 10%. The correlation between the two funds is -0.15. The risk-free rate is 0.5%. (a) What is the weighting of the debt and equity portfolios in the minimum-variance portfolio? (3 marks) (b)What is the reward-to-risk ratio of the minimum-variance portfolio?

Can you please handwrite the answer and not use excel, thanks.