For periods beginning on or after l January 2011, the Global Investment Performance Standards () require that total firm assets be defined as the aggregate fair value of all:()
A. discretionary assets in fee-paying portfolios managed by the firm.
B. discretionary and non-discretionary assets in fee-paying portfolios managed by the firm.
C. discretionary and non-discretionary assets in fee-paying and non-fee-paying portfolios managed by the firm.