All of the following are true of hedge funds, except $($only choose the exception$)$:

$\backslash$table$[[$they are not limited in their ability to change$],[$investment strategy without notifying$],[$investors$],[$they are required to provide detailed$],[$disclosure on their investment strategies and$],[$holdings$],[],[$they require investors to agree to "lock$-$up$"],[$provisions which limit the ability to redeem$],[$investments$]]$

$(4)$ they are only open to experienced investors with high net worth