A portfolio manager at a hedge fund manages an equity portfolio that is benchmarked to an index. The information on the performance of the portfolio and the benchmark over the last 5 years is provided below:

| Year | Portfolio rate of return | Benchmark rate of return | Portfolio beta with respect to the benchmark |

|------|--------------------------|--------------------------|---------------------------------------------|

| 1 | 0.072 | 0.070 | 0.92 |

| 2 | 0.052 | 0.054 | 0.88 |

| 3 | 0.052 | 0.047 | 0.90 |

| 4 | 0.060 | 0.060 | 0.84 |

| 5 | 0.048 | 0.033 | 0.89 |

What is the approximate value of the manager's information ratio?