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The John Linter endowment fund offers a total market mutual fund, which has been managed by a single fund manager with expertise in asset allocation.

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The John Linter endowment fund offers a total market mutual fund, which has been managed by a single fund manager with expertise in asset allocation. The board of the fund is considering hiring Elliott Asset Management as an additional fund manager to complement the existing one. The board is hoping that Elliott is skilled in security selection. The following tables show the average performance data for the benchmark portfolio of Elliot Management (Table A) and their total market portfolio (Table B). Using performance attribution analysis, what is the contribution of security selection to the excess performance of Elliott Management's total market portfolio? Table A: Equity Bonds Cash weight 0.43 0.52 0.05 return (%) 7.92 2.74 0.40 Table B: Bond Cash Equity weight 0.45 return (95) 8.14 0.50 0.05 2.59 0.40 0.128% 0.192% 0.316% 0.104% 0.02496

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