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For this part of the assignment, use the returns for the mystery mutual funds in hw3data.xlsx. In the sheet labeled “Mystery Funds”, there are returns for three different mutual funds. The funds are:,(a) iShares S&P 500 Value Index (IVE) – Large Value,(b) iShares S&P Growth Index (IVW) – Large Growth,(c) iShares Russell 2000 Growth Index (IWO) – Small Growth,1. Report the average excess returns of each of the three funds with a 95% confidence interval.,2. Run multivariate regressions of the excess returns of these mystery funds on the three Fama-French factors and report the estimates (with t-statistics).,3. Based on the results of the multivariate regressions, identify which fund is which.,4. Suppose that we believe that the Fama-French 3-factor model properly captures risk. Do the results in (2) indicate that any of the fund managers have an ability to generate returns in excess of the risks that they are taking on?