The long-range plan for a portfolio is called the O tactical asset allocation. O Monte-Carlo simulation. strategic asset allocation. efficient market hypothesis. O investment policy statement. The Internal Rate of Return (IRR) is the discount rate that equates the present value of cash inflows to the present value of cash outflows. O is the equivalent to the time-weighted annual return. is influenced by the timing of contributions and withdrawals that may be beyond the control of a portfolio manager. all of the above are true statements. O A and C are true, but B is not true