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Learning Outcome Statements
|June 2015 Level II > Study Session 18. Portfolio Management: Capital Market Theory and the Portfolio Management Process. > Reading 54. Residual Risk and Return: The Information Ratio|
|1. The definition of alpha|
|2. Information ratio|
|3. The active manager's objective|
|4. The optimal level of residual risk|
|5. Value added: risk-adjusted residual return|