The performance of each fund was measured by its risk-adjusted excess return, which is the difference between the return on investment of the fund and a return that is considered a standard. The standard is based on a variety of variables including the risk-free rate. There are four variables that describe the fund manager. They are age, tenure (how many years the manager has been in charge), whether the manager had an MBA (1 = ye
File: Funds There are thousands of mutual funds available. There is no shortage of sources of information about them. Newspapers regularly report the value…