Fung, William; Hsieh, David A. - In: Journal of Financial and Quantitative Analysis 35 (2000) 03, pp. 291-307
It is well known that the pro forma performance of a sample of investment funds contains biases. These biases are documented in Brown, Goetzmann, Ibbotson, and Ross (1992) using mutual funds as subjects. The organization structure of hedge funds, as private and often offshore vehicles, makes...