Which of the following statements does NOT describe the role of a portfolio manager in perfectly efficient markets Portfolio managers should:（）
A. construct diversified portfolios that include international securities to eliminate unsystematic risk.
B. quantify client’s risk tolerance, communicate portfolio policies and strategies, and maintain a strict buy and hold policy avoiding any changes in the portfolio to minimize transaction costs.
C. help clients minimize taxes and reduce trading turnover.
参考答案：B
解析：
A portfolio manager should quantify each client’s risk tolerance and communicate portfolio policies and strategies. However, adhering to a strict buy and hold policy would not be in the client’s best interest. Portfolios need to be rebalanced and changed to meet client’s changing needs.