Use portfolio attribution analysis to assess the active strategies of two managers with the same alpha: Active

Use portfolio attribution analysis to assess the active strategies of two managers with the same alpha:

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Active management return (alpha) % Components of active return: Market timing Sector emphasis Industry exposure Security selection Unreconciled return Manager X 3.5 -0.2 0.5 1.5 2 -0.3 Manager Y 3.5 -0.1 2 1.4 0.5 -0.3