In a particular year, the Super Fund made the following investments in the following asset classes: In the same year, the bogey portfolio made the following investments in the following asset classes: What can you say about this fund manager? She is highly skilled since her portfolio exceeds the return of the bogey The investment committee is highly unskilled at allocating capital across asset classes She is highly unskilled at selecting securities The fund manager is highly skilled at selecting the bogey portfolio as universe comparison