. The information on the portfolio of Manager X and a benchmark is given in Table 2.4 Table 24 Benchmark e Manager X Asset classe Return rate Return ratele Weight Weight (%) (%) Stocks 0.60 6.0 0.75 12.00 le Bondse 0.30 2.52 0.20 2.00 Cash 0.10 0.5 0.05 0,30 Required: a) Calculate the overall return to the benchmark portfolio and Manager X's portfolio. Does the portfolio outperform or underperform the benchmark? b) Use the performance attribution analysis (PAA) to calculate the selection effect and the allocation effect for Manager X. Based on the PAA and the results of part (a), comment on whether Manager X has added value through his selection skill or allocation skill, or both. c) Discuss the benefits of performance attribution analysis from the perspective of (i) portfolio managers and (ii) investors