question 3 please

Odre 3 0/5 points es A stock portfolio managed by the fund XYZ has an annual return of 10% and a standard deviation of 23%. Given this, which of the following would most correctly interpret the 5% VaR in this case? ES ar I want my investment to perform better than 28% for at least 95% of the time. I do not want my loss to exceed -28% for more than 5% of the time. O I want my profit to exceed 28% for more than 5% of the time. 5/5 points In the previous year, XYZ mutual fund had average assets of $550 million and the expense ratio was 0.9% (including the management fees). Other administrative fees in % is 0.25%. What were the fees paid to the managers