Consider the following approach to equity portfolio management:

1)Style Investing

2)Bottom-Up Management

3)Investment in Exchange Traded Funds (ETFs)

4)Investment in Indexed institutional Portfolios

In the context of managing equity portfolio, which of the above approaches is (are) associated with Passive Management?

Select one:

a.Approach 2 and Approach 3

b.Approach 1 and Approach 4

c.Approach 2, and Approach 4

d.Approach 3 and Approach 4

e.Approach 1, Approach 2