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The following data are available relating to the performance of Long Horn Stock Fund and the market portfolio: Long Horn Market Portfolio Average return 19

The following data are available relating to the performance of Long Horn Stock Fund and the market portfolio:

Long Horn Market Portfolio
Average return 19 % 12 %
Standard deviations of returns 35 % 15 %
Beta 1.5 1.0
Residual standard deviation 3.0 % 0.0 %

The risk-free return during the sample period was 6%. Calculate the information ratio for Long Horn Stock Fund.

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