TY - JOUR T1 - A Study of Survival JF - The Journal of Alternative Investments SP - 16 LP - 22 DO - 10.3905/jai.1999.318902 VL - 2 IS - 3 AU - Richard B Spurgin Y1 - 1999/12/31 UR - https://pm-research.com/content/2/3/16.abstract N2 - Since dissolving funds generally underperform surviving funds, the impact of survival bias on managed futures performance is of continued interest in the managed funds area. One aspect of interest is identifying whether there is a difference in the pre–dissolution performance of survivors and nonsurvivors. Results suggest a strategy of actively pruning underperforming managers may improve portfolio returns by eliminating managers who are at risk for dissolution. ER -