Assuming return follow a normal distribution, you estimate the VaR of your exposure. However, the true return does not follow normal distribution, it has a higher kurtosis. The VaR value you have will underestimate the frequency of losses. True False Which direction(s) should the efficient frontier move by adding additional risky assets to the investment opportunity? What does it mean in terms of risk and return? Direction can be East, South, West and North, South East, South West, etc. OR up, down, left, right (4 marks)