In the context of performance presentations, the CFA Institute Code of Ethics and Standards of Professional Conduct emphasizes the importance of demonstrating a fair and complete representation of investment returns. Consider the following scenario:
Investment Manager A has been managing a high-yield bond fund for over a year and has achieved significant returns. To attract new investors, they choose to present their performance, including only the returns from the last six months, while omitting the returns from the first six months, which were considerably lower due to market conditions.
Which of the following actions by Investment Manager A would most likely violate the CFA Institute Standards relating to performance presentations?