3. Expenses and management of mutual funds Consider two mutual funds, A and B. While each mutual fund generates a return of 7.6%, they have different oxpense ratios. Mutual fund A has an expense ratio of 2.0%, while mutual fund D has an expense ratio of 37.0%. Mutual fund A generates an actual return of expenses). All else equal, the difference in actual returns (net of expenses) between the two mutual funds will horizons, True or False: The SEC requires that the board of any mutual fund is comprised primarily of emplopees of that mutual fund. True False