Please read the whole description You are considering assembling a portfolio of stocks worth approximately ?100,000 for a client. It was decided to invest into selected stocks covered by the FTSE250. The aim is to have a well-diversified but cost-effective portfolio. The relatively large costs of purchasing small amounts of stocks would make holding the entire FTSE250 prohibitively expensive. Required:Using an essay format:(a) Discuss the benefits of diversification and explain, with referenceto the information provided in the case above, why it might bebest to only invest into a selection of stocks from the FTSE250.Describe how you might determine those stocks you invest in. (65 marks)(b) Discuss the advantages and disadvantages of using an index asthe market in assessing portfolios. (35 marks)(Total 100 marks) Please proof the above with financial data, and statistical calculations. Especially with the stocks that you are going to choose. Thanks.