Which of the following situations should be considered as a true "outperformance" by a fund manager? A fund manager beats the benchmark by taking a 1.5 leverage and investing in the benchmark portfolio. A fund manager beats the benchmark of S\&P500 by investing in small and value stocks. A fund manager beats the benchmark of S\&P500 by following the momentum strategy. An equity fund manager beats the benchmark by investing more in the market before the market rises