Month Return on Fund A Return on Fund B2 16 5% 9% 22 6% 106 32 5% 10% 6% 12% 52 5% 5% 62 5% 8% Beta 1.22 1.42 2% Risk-free rate a. b. Which fund should be selected based on mean-variance criterion? (9 marks Is your conclusion in part a) above necessarily correct? Why? (5 marks) Which fund performed better if the selected fund was held in isolation? Why? (6 marks) c