The "Statement of Additional Information" (SAI) That Mutual Funds and Closed-End

The "statement of additional information" (SAI) that mutual funds and closed-end funds are required to produce:

A) must be provided to prospective investors whenever an offer to sell shares of these funds is made.
B) must be sent to shareholders of the fund on at least a semiannual basis.
C) usually contains some biographical information on the officers and directors of the fund.
D) Both A and B are true statements.