Question Seventeen African Capital Investment Company (ACIC) has decided to open a branch in Ghana as a first step in diversifying its equity portfolios to incorporate emerging market assets. They are therefore assessing the performance of three funds that have been suggested to them by their local consultant. The three funds are: (a) Campus Fund which caters to the investment needs of students and lecturers (b) Hospital Fund which is meant for nurses and medical doctors (c) All-Share Fund which is set up to mimic the GSE-All Share Index Their decision to locate in Ghana is dependent on their perceived performance of the various funds already operating in the country. They have gathered five years of return data and other basic statistics on the funds; which are presented below: The five-year average return on the Government of Ghana One Year Treasury Note is 8.0%. Based on the information above they have asked you to present to them your assessment of the performance of the above funds using the following performance measurement indexes: (a) Sharpe's Performance Index (b) Treynor's Performance Index (c) Jensen's Performance Index In each case indicate which fund performed best