114. An index provider has created a new investable index that tracks the hedge fund industry. Any
fund that follows a long/short equity strategy can enter the index. The index provider places
new constituents in the index at the end of each year and incorporates the new funds’ track
record in the database. Which of the following is least likely a bias that might distort the
historical performance of the index?
A. Backfilling.
B. Self-selection.
C. Tracking error.
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