Surviorship/Backfill returns, previously, index, added

fructify

Am I right to say that the hedge fund index returns would be overstated due to Survivorship bias ?

And also the index returns to be overstated due to backfill bias if the fund added did not exist previously ?

ogoluwa

Yes, you could say that. The underlying point here is that since there is no regulation in the hedge fund market, only the good stuff gets put on display. Survivorship and backfill all result in putting a good face to an otherwise unknown/unknowable hedge fund market.
P