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A fund of funds (FOF) manager is conducting a performance attribution analysis for a portfolio consisting of equity and fixed-income securities to evaluate the effects of the portfolio manager's asset allocation and security selection decisions. The FOF manager uses the information presented below:
| Asset class | Portfolio weight | Benchmark weight | Portfolio return | Benchmark return |
|---------------|------------------|------------------|------------------|------------------|
| Equity | 58% | 50% | 8% | 11% |
| Fixed income | 42% | 50% | 6% | 7% |
What is the contribution of the portfolio manager's asset allocation decision to the portfolio's overall excess return?
A
-2.16%
B
-1.84%
C
-0.16%
D
0.32%