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Mutual funds governed by the investment company act of the 1940s are allowed to charge fees that depend only on fund performance above, but not

Mutual funds governed by the investment company act of the 1940s are allowed to charge fees that depend only on fund performance above, but not below, the benchmark. In other words, the fees can go up if the fund outperforms the benchmark, but the fees do not fall if the fund underperforms the benchmark. This statement is...

A.

TRUE
B.

FALSE

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