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When foreign assets are included, the investment opportunity set ( the umbrella - shaped area ) on the expected return / standard deviation map expands

"When foreign assets are included, the investment opportunity set (the umbrella-shaped area) on the expected return/standard deviation map expands further to the left. This is because foreign assets in general have a higher correlation with domestic assets, allowing the formation of additional portfolios with higher standard deviations than if only domestic assets are available." True or false?

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