Which one of the following is not the function of placenta?

Placenta does not secrete oxytocin. It is secreted by hypothalamus and released by neurohypophyses. It stimulates smooth muscle contractions during parturition.

Placenta is the structural and functional unit between developing embryo (foetus) and maternal body called placenta. The placenta facilitate the supply of oxygen and nutrients to the embryo and also removal of carbon dioxide and excretory/waste materials produced by the embryo. Placenta also acts as an endocrine tissue and produces several hormones like human chorionic gonadotropin (hCG), human placental lactogen (hPL), estrogens, progestogens, etc.