Which of the following are true concerning institutional investors?

I. Institutional investors are professionals who manage money for other people.

II. Banks, insurance companies and mutual funds are all institutional investors.

III. Institutional investors are individuals who invest indirectly through financial institutions.

IV. Institutional investors invest large sums of money.

A.

I and II only

B.

I, II and IV only

C.

II, III and IV only

D.

I, II, III and IV