Q1 ) How do we call the mutual fund that spreads investors' money across equity markets, bond markets, and money markets and changes the amount of money invested in each market sector, as market conditions change?

Q2) on pic please with clear step

16 out of 20 points You invested $1,500,000 in a hedge fund. The foo structure is 2/20, and the fund has a high-watermark provision Suppose the first year the fund manager gains 7 percent, and the second year she loses 15 percent. Assume management foes are paid at the beginning of each year and performance fees are taken at the end of each year. What are the management and performance fees paid each year