Mark, who is a financial advisor, manages an equity portfolio for the $U$ of $A$

endowment fund, which has an $8\mathrm{.}1\%$ return objective. Mark makes a strategic

allocation recommendation that produces a return of $7\mathrm{.}8\%$ in an economy that has.

experienced a $2\mathrm{.}7\%$ rate of inflation. Mark also creates his own benchmark for the

fund which includes multiple indexes that have similar risk profiles of the securities

in the fund. The benchmark return during the period is $7\mathrm{.}5\%.$ Is the endowment fund

satisfied with Mark's performance?

Yes, because the fund outperformed the return objective.

No$,$ because the fund underperformed the objective.

Yes, because the fund outperformed inflation.

Yes, because the fund outperformed the benchmark return.