NO.PZ2022120703000009
问题如下：
When an asset manager receives an investment mandate from a pension fund, the asset manager:
选项：
A.assumes a fiduciary duty to the pension fund's members.
B.becomes the legal owner of the assets under management.
C.acts as the counterparty to investment transactions on behalf of the pension fund.
解释：
A is correct because the asset manager is "required to act as a fiduciary to clients."
B is incorrect because "asset managers … are not legal owners of their assets under management."
C is incorrect because "asset managers … are not the counterparty to transactions or to derivatives."
为啥 manager 不是交易对手方
