1. Which of the following statements is FALSE?

   	A.	The return from investing in mutual funds can include dividends, gains from the sale of the mutual fund assets, and gains from the sale of the mutual fund shares.
   	B.	Hedge funds offer a high degree of privacy for their investors.
   	C.	One of the goals of mutual funds is to achieve superior diversification through fund and risk pooling compared to what individual investors can achieve.
   	D.	Mutual funds are financial intermediaries that invest in diversified portfolios of assets.
   	E.	Life insurance companies tend to concentrate their investments at the short term of the investment spectrum.