You and a prospective client are considering the measurement of investment perfor$-$mance, particularly with respect to international portfolios for the past five years. The data you discussed are presented in the following table:

International Manager or Index Total Return Country and Security Return Currency Return

Manager A $-6\%2\%-8\%$

Manager B $-2-1-1$

International index $-52-5\mathrm{.}2$

a$)$ Assume that the data for manager A and manager B accurately reflect their invest$-$ment skills and that both managers actively manage currency exposure. Briefly describe one strength and one weakness for each manager.

b$)$ R ecommend and justify a strategy that would enable your fund to take advantage of the strengths of each of the two managers while minimizing their weaknesses.