Hedge funds are generally not required to publicly disclose their performance, however, some managers choose to make performance information available to the public. This information is then included in hedge fund indexes and some conclusions about the performance of hedge funds can be drawn. Which of the following statements regarding hedge fund performance is least accurate()
A. In recent years, the Sharpe ratio for hedge funds has been comparable to that of fixed income investments.
B. The reported volatility of hedge fund returns may be higher than the actual volatility of returns.
C. When measured by standard deviation, hedge funds are less risky than traditional equity investments.
参考答案：B
解析：
Many assets that are included in a hedge fund portfolio are not actively traded. Managers utilize estimates to report the market value and performance of their hedge funds. Using estimates rather than actual market transactions may result in smoothed pricing, thereby reducing reported volatility.