Which of the following statements is incorrect?

Select one:

a. Private equity funds intend to hold their equity investment for a few years, while hedge funds intend to make quick profit.

b. Pension funds are defined benefit that employers provide to their employees upon retirement.

c. Mutual funds are SEC regulated, and thus investor's money is FDIC insured.

d. Hedge funds are a type of private equity funds that invest in startup business.

e. When you buy shares of a mutual fund that holds IBM stock, you are also considered as IBM's stockholder.