a) Magnum Funds is a well-diversified balanced mutual fund. Following table provides details about Magnum's portfolio return from various asset classes, its portfolio allocation to various assets, the asset allocations of the benchmark portfolio and the index returns in various asset classes. Based on the information above answer following questions. i. Estimate Magnum's relative performance in comparison to its benchmark? ii. What is the contribution of asset allocation decisions to Magnum's relative performance compared to the benchmark? iii. What is the contribution of security selection decision to Magnum's relative performance compared to the benchmark? b) Based on your understanding of the risk adjusted portfolio performance measures answer following questions: "Performance ranking of investment portfolios based on Sharpe ratios may differ from the performance ranking based on M2 measure." Do you agree? Explain your answer with reasons