Question: A portfolio manager (manager A) has maintained an actively managed portfolio with a beta of 0.75. During the last year, the risk-free rate was 3%

A portfolio manager (manager A) has maintained an actively managed portfolio with a beta of 0.75. During the last year, the risk-free rate was 3% and major equity indices performed well, providing retums of about 10%. Manager A produced a return of 9%. Another manager (B) has managed an active portiolio with a beta of 1.2 and has produced retums of 22%. Which manager, if any, did better than the market

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