1.  A hedge fund manager should carefully consider the appropriate mechanism, given the nature of potential investors, for changing the fund’s stated investment policy/strategy and advise the fund governing body accordingly.

1.  No applicable guidance.

2.  Once the fund governing body has determined the appropriate mechanism, the manager should do what it reasonably can to enable and encourage the fund governing body to disclose such mechanism appropriately in the fund’s offering documents.

2.  No applicable guidance.