measures the degree to which a mutual fund is actively managed.

this answer is very important for me, this is my final work.
Some mutual funds are actively managed,while others are passively managed.
One recent measure (developed by Martijn Cremers and Antti Petajisto), called
Active Share,measures the degree to which a mutual fund is actively managed.
a) How is “Active Share” calculated and interpreted?
b) Bluechipper Mutual Fund is actively managed,and invests only in influential well-established companies.An appropriate benchmark index for the Fund is the Dow Jones Industrial average.Using the data contained in Q2 Data.xlsx to calculate Bluechipper’s Active Share.
c) Suppose you investigate a mutual fund that claims to be actively managed, but discover that it’s Active Share measure is actually very low.What might you conclude?

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