You are a portfolio manager of a global equity fund of funds UITF. You decided to hold a portfolio with 80 percent invested in the S&P 500 equity index fund and the remaining in the Blackrock Emerging Markets Index Fund. The expected return for the former is 9.93% and then 18.20% for the Blackrock Emerging Markets index. The risk (standard deviation) is 16.21 % for the S&P 500 and 33.11 % for the Blackrock Emerging Markets index.

What will be the portfolios expected return?

What is the portfolios expected risk in terms of standard deviation given that the covariance between the S&P 500 equity index fund and the Blackrock Emerging Markets index is 0.5 percent or 0.0050?