Question: 1. A large-cap value equity manager has a $7,500,000 equity portfolio with a beta of 0.91. An S&P 500 futures contract is available with a

1. A large-cap value equity manager has a $7,500,000 equity portfolio

1. A large-cap value equity manager has a $7,500,000 equity portfolio with a beta of 0.91. An S&P 500 futures contract is available with a current value of 1,175 and each contract is on $250 times the index. What position should the manager take to completely hedge the portfolio's market risk

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