问题如下：
Which of the following is most likely to be available when conducting hedge fund due diligence?
选项：
A.The benchmark used by the fund
B.Information on systems risk management
C.Details of investment strategies and processes
解释：
A is correct.
It should be possible to identify the benchmark against which the fund gauges its performance in the hedge fund due diligence process. It should also be possible to establish the range of markets in which the fund invests as well as the fund’s general strategy. Hedge funds consider their strategies, systems, and processes to be proprietary and are unwilling to provide too much information to potential investors.
对冲基金为保持竞争力通常只会公布一些一般信息，如：对冲基金在哪个市场投资，选用什么样的benchmark，这些信息投资者是容易获得的；但涉及到具体投资策略和系统风险管理方法都不会选择公布。
这里的benchmark怎么理解？是对手hedge fund的数据？？ 是类似的portfolio？？
