You have just gathered the following performance data for three
You have just gathered the following performance data for three different money managers, based on a regression of their excess returns relative to those for the S&P 500 Index. Each manager's performance was measured over the same three-year period, but the return period for each was different.


a. Calculate the information ratio for each manager, ignoring the difference in return reporting periods.
b. Calculate the annualized information ratio for each manager.
c. Rank the managers’ performance according to your answers in Parts a and b. Which manager performed the best?Explain.
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