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The Layton Growth Fund has an average return that is 1.1 percent higher than the market benchmark. You have determined that Layton's information ratio is

The Layton Growth Fund has an average return that is 1.1 percent higher than the market benchmark. You have determined that Layton's information ratio is 0.40 . What must Layton's tracking error be relative to its benchmark? Note: Enter your answer as a percent rounded to 2 decimal places

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