A portfolio manager for a large cap equity fund learns from his colleagues at another investment firm of a small-cap company whose prospects for future growth and earnings are outstanding. He invests in the company on behalf of the fund, and over the course of the next two years, the performance of the company's stock contributes greatly to his investment fund beating its benchmark. The manager:

A) has not violated the CFA Institute Code and Standards because the investment was an equity investment, which is the type contemplated by the investment fund he manages.

B) has violated the CFA Institute Code and Standards because his investment in the small-cap company is contrary to the stated objectives of the fund.

C) has violated the CFA Institute Code and Standards because he became aware of the investment from his colleagues at another firm and thus used confidential information.