Suppose it is the 22nd November 2023 and you invest $12m in a US equity mutual fund. You can choose any actively managed US equity mutual fund. (Also assume that you can invest in fractional shares.) Calculate the number of shares you can buy on the 22nd November 2023. Now is the 6 th December and you are concerned about the outlook of the US stock market in the first half of 2024. You decided to use futures contracts to manage this risk. Carefully explain what you would do to hedge, what you expect the outcome to be and what the practical issues are when you are undertaking such a strategy. Make any necessary assumptions you need to answer this question including when you anticipate to end the hedge. You need to collect your own data to undertake this task.