Emerging hedge fund managers gaining attention despite data

``Emerging hedge fund managers are getting more attention from institutional investors because they tend to produce better returns than larger, more established funds, but industry insiders disagree about the extent of the outperformance... The combination of survivorship and backfill biases accounted for 718 basis points of the 14.88% annualized performance of 6,169 hedge funds from within the TASS database for the 15 years ended December 2009 that were analyzed by Roger G. Ibbotson, Peng Chen and Kevin X. Zhu. ''