Which One of the Following Statements Is Correct

Which one of the following statements is correct?

A) In a totally efficient market every investment has a zero net present value.
B) Portfolio managers with tenures greater than 10 years, consistently outperform the market.
C) The performance of professional money managers improves the longer the investment period.
D) Mutual funds that are actively managed outperform index funds over the long term.
E) The number of mutual funds outperforming the Vanguard 500 Index Fund over a 10-year period is steadily rising.