Suppose that you bought 100 shares of Tortoise Mutual Funds at a NAV equal to $100 per share. One year later, the Tortoises NAV rises to $110, while the Fund distributes $2 and $3 per share on dividends and capital gain distributions. Your holding period return will be:

a. 12.0%

b. 13.64%

c. 10.0%

d. 15.0%

Please mark the only incorrect statement about portfolio management:

a. if a portfolio manager increases the weight wB of corporate investment grade bonds and reduces the weight wE of US equities in a balanced portfolio, she will likely increase the expected return and reduce the volatility of the portfolio P

b. a portfolio manager can also build a well-diversified portfolio P mixing other mutual funds and ETFs

c. portfolio managers should closely monitor the resulting beta of an all equities portfolio and duration of an all bonds portfolio

d. a portfolio manager can build a well-diversified portfolio P mixing hundreds of stocks and bonds