问题如下：
If a composite includes portfolios with bundled fees, the firm must present:
选项：
A.the details of fee schedule.
B.the composites with bundled fees as a segregated component.
C.the percentage of composite assets represented by portfolios with bundled fees as of each annual period end.
解释：
C is correct.
考点：条款5.A.7
解析：条款5.A.7 If a composite includes portfolios with bundled fees, the firm must present the percentage of composite assets represented by portfolios with bundled fees as of each annual period end.
如果composite中包含了打包费的基金组合，那么公司就必须于每一年度末报告那些收取打包费组合占composite的百分比情况。
条款不要求披露打包费的收费标准，也不需要将那些收取打包费的组合从总资产中隔离。
fee structure 不是必须要披露的吗？
