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The investment management firm of Rakes, Finch, and Weeks (RFW) manages several fee-paying portfolios to a long-short strategy. RFW does not ever intend to market this strategy, so they do not include the performance of these portfolios in any of the firm’s composites. Which of the following statements indicates what RFW must do if it intends to claim compliance with the Global Investment Performance Standards (GIPS)? RFW must: A. disclose the fact that the long-short portfolios are not included in any of the firm's composites. B. include the long-short portfolios in a composite of portfolios managed to a strategy that the firm does not intend to market. C. include the long-short portfolios in at least one of the firm's composites. |