The following data is available relating to the performance of a hedge fund and its benchmark portfolio. The risk$-$free rate of return during the sample period was $1\%.$ What is the Information Ratio for the hedge fund?

Hedge Fund Benchmark Portfolio

Average return $30\mathrm{.}26\%6\mathrm{.}99\%$

Standard deviations of returns $23\mathrm{.}85\%16\mathrm{.}55\%$

Beta $1\mathrm{.}750\mathrm{.}95$

Tracking error $5\mathrm{.}45\%$