U PILS Use the following information to answer questions a. - e. Fund or Standard Sharpe Asset Return (%) Deviation (%) Beta Alpha (%) Ratio Risk-free 1.5 0 0 Market 9 18 1 0 0.389 Fund A 6 14 0.6 1.3 0.286 Fund B 11 22 1.3 ? na. n.a. a. What is the alpha for fund B? b. Based on alpha, which fund displays superior performance? c. What is the Sharpe ratio for fund B? d. Based on the Sharpe ratio, which fund displays superior performance? e. Suppose you were using this information to recommend a portfolio to your client. What additional evidence would make you more confident that the fund you recommend has the ability to achieve superior perform in the future? (Hint: The answer has nothing to do with the Treynor Index.)