When a fund is added to a database for the first time, all or part of its historical data is recorded ex-post in the database. It is likely that funds only publish their results when they are favorable, so that the average performances displayed by the funds during their incubation period are inflated. This is known as "instant history bias" or "backfill bias".
When a fund is added to a database for the first time all or part of its historical data is recorded ex-post in the database It is likely that funds only publish their results when they are favorable so that the average performances displayed by the funds during their incubation period are inflated This is known as "instant history bias" or "backfill bias"