fund indices and these index returns reflect the characteristics of the funds reporting to the relevant database. However … contain backfill or survivor bias. At the same time, performance characteristics may differ between indices since each index … analysis, are impacted both by the period of analysis as well as the hedge fund index used. Moreover, results indicate that the …

index provider. Also most product providers and even more and more investors are using hedge fund indices for benchmarking … purposes. As some academic articles pointed out, the world of hedge fund indices is very heterogeneous. So the empirical … from the fact that each index provider looks at a different subset of underlying hedge funds. Therefore we calculate …

. Furthermore, only the Eastern Europe hedge fund index demonstrates statistically significant volatility timing ability in the bond …