Stu meets with his advisor, Jennifer, to ask questions about his investingoptions. Stu has narrowed his interest down to mutual funds and segregated funds. When Stu asks Jennifer about the differences between mutual funds and segregated funds, which of the following is the CORRECT response Jennifer should provide to Stu?

a)Stu will be able to name a beneficiary on a segregated fund, but not on a mutual fund.
b)Segregated funds will be more tax efficient for Stu than mutual funds.
c)Stu will earn a greater return with a mutual fund than a segregated fund.
d)Stu will pay more in fees for a mutual fund than for an equivalent segregated fund.