Chapter 24 Portfolio Performance Evaluation

49. Studies of style analysis have found that _____ of fund returns can be explained by asset allocation alone. A. between 50% and 70% B. less than 10% C. between 40 and 50% D. between 75% and 90% E. over 90%. Sharpe (1992) and Brinson, Singer and Beebower (1991) found that style explained 91.5% and as much as 97% of fund returns. ................
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