Since the 2008 market crisis, retail demand for alternative investment strategies has surged.  Consequently, offerings of alternative mutual funds by U.S. hedge fund managers have steadily increased in recent years; however, the alternative mutual fund structure has not proven as popular in Europe or Asia, where retail investors and regulators prefer the UCITS structure.  See “The First Steps to Take When Joining the Rush to Offer Registered Liquid Alternative Funds,” Hedge Fund Law Report, Vol. 7, No. 42 (Nov. 6, 2014).  In addition, concerns with fund governance issues, such as key person risk and investment strategy drift, have similarly escalated since the crisis.  This article summarizes the discussion of these topics at the recent Dechert Alternative Funds Symposium in New York City.  For additional coverage of the Symposium, see “Dechert Global Alternative Funds Symposium Highlights Trends in European and Global Hedge Fund Marketing,” Hedge Fund Law Report, Vol. 8, No. 21 (May 28, 2015).