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The committee overseeing a significant retirement fund is evaluating different investment options using the mean-variance optimization model. Given that the fund can both borrow and lend at the risk-free rate, and aims to invest exclusively in portfolios positioned on the efficient frontier, which of the following statements accurately reflects the committee's target portfolio under the mean-variance model, considering that only two viable risky assets, A and B, are available and the market is in equilibrium?
A
If the committee's aversion to risk changes, the proportion of asset A to asset B held in the fund's target portfolio will change.
B
The proportion of asset A to asset B held in the target portfolio will be constant and in proportion to the assets' respective share of all investable assets.
C
The proportion of asset A to asset B held in the target portfolio will be constant and in proportion to the assets' relative risk contributions to the total market risk.
D
The proportion of asset A to asset B held in the target portfolio will be constant and a function of the assets' respective expected returns.