A money manager, who is a member of CFA Institute, states that, "Our aggressive growth fund produced a 12% annualized return last quarter. This illustrates the superior results our firm produces." The fund return stated by the manager is accurate. Is this a violation of Standard III(D) Performance Presentation?
A) Yes.
B) No, because a brief summary of results is acceptable as long as more complete information is made available.
C) No, because the manager has stated a fact.
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