Consider the following statements: 1. If you do not have an investment philosophy, you are more likely to be susceptible to behavioural biases, switching from strategy to strategy that increases transaction costs. 2. If the investors ability and willingness to bear risk are in conflict, the Investment Policy statement should generally reflect the more conservative perspective. 3. In Defined Benefit funds, the employee is contractually obligated to make a stream of contributions to their own account. Which of the above statements is (are) CORRECT? Select one: a. Statement (1) and (2) b. Statement (2) and statement (3) c. Statement (1) and statement (3) d. Statement (1), statement (2), and statement (3) e. None of the Statement