The manager selection process begins by defining the universe of feasible managers. When defining this manager universe,

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The manager selection process begins by defining the universe of feasible managers.

When defining this manager universe, the selection process should avoid:

A. excluding managers based on historical risk-adjusted returns.

B. identifying the benchmark against which managers will be evaluated.

C. using third-party categorizations of managers to find those that might fill the desired role in the portfolio.

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