Which of the following statements, if any, is

I. Mutual funds never have runs.

II$.$ Funds invested with insurers are as safe as deposits at a

III. Pension funds generally have less liquidity risk than b

A$)$ Only II and III are true.

B$)$ None of these choices are correct.

C$)$ Only III is true.

D$)$ All three are true.

E$)$ Only I is true.