You want to evaluate three mutual funds using the information ratio measure for performance evaluation.The risk-free return during the sample period is 6%, and the average return on the market portfolio is 19%.The average returns, residual standard deviations, and betas for the three funds are given below. 
The fund with the highest information ratio measure is
Definitions:
Express Condition
A specific condition explicitly stated in a contract that must be fulfilled for the contract's obligations to be performed.
Condition Subsequent
A condition that operates to relieve or discharge one from his obligation under a contract.
Building Code
Regulations that specify the standards for constructed objects such as buildings and nonbuilding structures, ensuring safety, health, and welfare of the occupants.
Excused from Performance
A legal concept where a party is released from fulfilling their obligations under a contract due to unforeseen circumstances that make performance impossible or impracticable.
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