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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

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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 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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