You are analysing the success of four portfolio managers over a five year period. During this period risk free investments have returned 4% per year, the market has returned 5% per year, with standard deviation 10%. The four funds have performed as follows:

Calculate the Sharpe and Treynor ratios for the four funds as well as Jensen's alpha measure and Modigliani'sM2

Beta Standard deviation 4% 25% 12% 14% Annual return Fund A Fund B Fund C Fund D 0,3 4 12% 5% 7% 2,4