Question: 33. Three equity fund managers have performance records summarized in the following table: Mean Annual Return (%) Standard Deviation of Return (%) Manager 1 14.38

33. Three equity fund managers have performance records summarized in the following table:

Mean Annual Return (%)

Standard Deviation of Return (%)

Manager 1 14.38 10.53 Manager 2 9.25 6.35 Manager 3 13.10 8.23 Given a risk-free rate of return of 2.60%, which manager performed best based on the Sharpe ratio?

A. Manager 1 B. Manager 2 C. Manager 3

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