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Your mutual fund manager is very proud to tell you that their fund outperformed their benchmark by +1% per year over the last five years as the average return on the mutual fund over the last five year. The average return of the fund was 20% while the average return on the S&P SmallCap 600 over the last five years was 19%. During the last five years, the average return on the Russell 3000 (the closest proxy to the US stock market) was 16%, the average risk-free rate was 6%, the standard deviation of the returns for the Russell 3000 was 0.180, the standard deviation of the returns for the S&P SmallCap 600 was 0.280, the covariance between the mutual fund and the Russell 3000 was 0.060, the covariance between the mutual fund and the S&P SmallCap 600 was 0.080. Using this information, how would you evaluate the performance of the mutual fund? What is your conclusion