Which of the following statements about managed funds is incorrect?
A) The assets of large managed funds may be managed by several professional managers.
B) A mutual fund is required to use the services of a mutual fund custodian.
C) Sources of funds for a managed fund may be in the form of monthly payments.
D) For Australia, recent figures show that the statutory funds of life offices have the largest amounts of assets under management.
Correct Answer:
Verified
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