What was the contribution to the manager's value-added, in % (to three decimal places) from his selection skills?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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The benchmark portfolio has an asset allocation of 65% stocks, 30% bond and 5% cash. The annual returns on these three asset classes are 7.20%, 3.90% and 1.10%. Over the same time period, a portfolio manager had an asset allocation of 72% stocks, 22% bonds and the balance in cash. The returns on the three asset classes in the manager's portfolio were 7.48%, 4.13% and 1.56% respectively. What was the contribution to the manager's value-added, in % (to three decimal places) from his selection skills? 

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