A具体什么意思呀 可以解释下吗

问题如下：

A key difference between a wrap account and a mutual fund is that wrap accounts:

选项：

A.have assets that are owned directly by the individual. B.cannot be tailored to the tax needs of a client. C.have a lower required minimum investment.

解释：

The key difference between a wrap account and a mutual fund is that in a wrap account, the assets are owned directly by the individual.