Which of the following statements is most accurate regarding how pension fund portfolios have changed since $1995?$

A$)$

Pension funds have been reallocating substantially large portions of their portfolios into alternative investments.

B$)$

The amount of risk being taken by pension funds for any given expected return has substantially increased.

C$)$

Pension funds have been diversifying more than they have in the past, thereby reducing overall portfolio risk.

D$)$

Pension fund investments and asset allocations have remained relatively the same.