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The table below represents the breakdown of the actual returns for a pension fund during a given quarter. The table also contains the benchmark weights

The table below represents the breakdown of the actual returns for a pension fund during a given quarter. The table also contains the benchmark weights and returns against which the pension fund is measured.

Fund Fund Benchmark Benchmark
Weight Return Weight Return
Equity 0.65 4.1% 0.60 4.4%
Bonds 0.30 2.4% 0.35 1.9%
Cash 0.05 0.75% 0.05 0.75%

Calculate the Fund's outperformance (or underperformance) relative to the Benchmark, i.e. the fund's performance minus the performance of the benchmark. If the fund underperformed, the relative performance should be a negative number.

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