Suppose an active equity manager has earned an active return of 110 basis points, of which 80

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Suppose an active equity manager has earned an active return of 110 basis points, of which 80 basis points is the result of security selection ability. Explain the likely source of the remaining 30 basis points of active return?
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Quantitative Investment Analysis

ISBN: 978-1119104223

3rd edition

Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle

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