Question 6 9.8 pts Why might the investment objective of a portfolio manager of a life insurance company be different from that of a mutual fund manager? The life insurance company must earn returns from its investments that match obligations stated in the insurance policy and generate a profit, whereas a mutual fund generally has no specific liabilities that must be met. None of the other answers are correct. o Typically the a life insurance company will establish a target payout but the mutual fund must at least match the upfront investments by its investors. To realize a profit the life insurance company can raise its premiums, whereas a mutual fund must earn active returns. Typically a mutual fund establishes a target payout, whereas a life insurance company's returns depend primarily on unpredictable policy payouts