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          <h1>Specialized Investment Fund disclosure rules require offer documents to highlight high-risk nature and Board-prescribed portfolio reporting</h1> The instrument mandates two principal disclosure obligations: (1) offer documents for a Specialized Investment Fund must contain adequate disclosures, expressly highlighting the high-risk nature of the product, thereby enabling investors to make informed investment decisions; and (2) portfolio disclosures for a Specialized Investment Fund must be made in the manner specified by the Board from time to time, thereby requiring portfolio information to be disclosed in the form, frequency and detail as prescribed by the Board.

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