Which of the Following Statements Is FALSE

Multiple Choice

Which of the following statements is FALSE?

A) Asset management firms manage the funds of individuals, businesses, endowments and foundations, and state and local governments.
B) Asset management firms are ranked semi-annually by Pension & Investments with the ranking based on the number of liabilities under management.
C) Asset management firms are either affiliated with some financial institution (such as a commercial bank, insurance company, or investment bank) or are independent companies.
D) Larger institutional clients seeking the services of an asset management firm typically do not allocate all of their assets to one asset management firm.