Your discussion with a client has turned to the measurement of investment performance, particularly with respect to international portfolios.

a. Assume that the data in this table for Manager A and Manager B accurately reflect their investment skills and that both managers actively manage currency exposure. Briefly describe one strength and one weakness for each manager.
b. Recommend and justify a strategy that would enable the fund to take advantage of the strength of each of the two managers while minimizing their weaknesses.

Performance and Attribution Data: Annualized Returns for Five Years Ended 12/31/2008 International Manager/Index Manager A Manager B EAFE index Country/Security Selection Currency Return 8.0% Total Return -60% -2.0 -5.0 2.0% 0.2 -5.2