Question: In a particular year, a fund manager made the following investments in the following asset classes: Weight Return Bonds 40% 5% Stocks 60% 18% The

In a particular year, a fund manager made the following investments in the following asset classes:

Weight Return
Bonds 40% 5%
Stocks 60% 18%

The return on a benchmark portfolio was calculated as follows:

Weight Return
Bonds (Bond Index) 70% 3%
Stocks (Stock Index) 30% 12%

Calculate the contribution of security selection (in percentage terms) to the fund's total excess return.

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