Portfolio Performance Is Often Decomposed into Various Subcomponents Such as the Return

Multiple Choice

Portfolio performance is often decomposed into various subcomponents such as the return due to ________.
I. broad asset allocation across security classes
II. sector weightings within equity markets
III. security selection with a given sector
The decision that contributes most to the fund performance is:

A) I
B) II
C) III
D) All contribute equally to fund performance