information ratio

ok so the way i see it,exceas return of a portfolio(active return) can be divided into two parts:

  1. factor tilts

2)stock selection/residual returns

Reading 57 describes information ratio as active return/active risk.(which would include both factor tilt as well as stock selection)

Reading 58 describes it as residual retun/residual risk.(which would capture only stock selection)

so which one is correct?

I have the same question as well on this. Would someone be able to help? Thanks

No, it would as well include factor tilts because its relative to a benchmark. So when you regress your portfolio returns with factor tilts compared to the benchmark, your residual will be based on the tilts (over/under exposure compared to benchmark).