CFA｜

问题如下：

The Global Investment Performance Standards least likely require:

选项：

A.nondiscretionary portfolios to be included in composites.

B.non-fee-paying portfolios to be excluded in the returns of appropriate composites.

C.composites to be defined according to similar investment objectives and/or strategies.

解释：

Composites (Standard IV – Composites) must be defined according to similar investment objectives and/or strategies. Terminated portfolios must be included in the historical returns of appropriate composites, and only fee-paying portfolios are to be included in composites. Non-discretionary portfolios must not be included in a firm's composites.