Certainly regulators are more aware of these problems given the focus on bucketing the liquidity of funds and requiring restrictions on the amount of illiquid assets. Nevertheless, funds have to find a strategy that works best at maintaining liquidity.
Given a simple framework there are specific actions that can be taken to mitigate some of the risks of a liquidity event. The portfolio can be bucketed into liquidity categories and liquid asset such as index futures can be used to adjust the portfolio risks for short-term shocks. A surprise inflow can be immediately invested in futures to generate beta exposure. If there is a shock outflow, index futures can be used as means of holding liquid assets that can be sold quickly.
Index futures may not solve a crisis event, but it can be used as liquid stop-gap for short-term liquidity needs.