Based on the preceding information, determine and justify your responses to the following:

Is the equity portfolio being managed with an active or passive approach?

How would the equity portfolio be characterized using the Morningstar equity style box?

Is the S&P $500$ an appropriate benchmark for the equity portfolio? If not, what benchmark would be a better fit?

Is the bond allocation being managed with an active or passive approach?

How would the bond allocation be characterized using the Morningstar Fixed Income Style Box?

Is the Bloomberg Agg an appropriate benchmark for the bond portfolio?

What is the $1-$year return of the total portfolio?

Based on the $60/40$ SAA and using the S&P $500$ and the Bloomberg Agg as benchmarks, what is the $1-$year blended $$benchmark$$ return?

How much excess return did the managers provide $($positive or negative$)?$