Which of the Following Is Not a Characteristic of Hedge

Which of the following is not a characteristic of hedge funds?

A) They are generally unregulated and normally restricted to high net worth individuals
B) They are not dependent on increasing stock prices,but rather a strategy of buying,selling and executing arbitrage positions
C) Managers normally receive 20 percent of the profits generated
D) Investors are often contractually locked in for two or three years on their investment
E) They are prohibited from using derivatives in their investment strategies