Which One of the Following Statements Is False

Which one of the following statements is false?

A) As an investor, you should be concerned with how long a fund manager has been managing a mutual fund.
B) Often, a fund's success is tied to the manager's ability to buy and sell securities in the fund.
C) If a manager has been managing a fund for 5 or 10 years, it is time to change managers and get someone with new ideas.
D) Ultimately, the fund manager is responsible for a fund's success.
E) Managed funds may be open-end funds or closed-end funds.