Are there data risks in the separate account/collective investment trust database?

There are inherent biases in almost any database and separate accounts/collective investment trusts are no exception as it is a voluntary database.

There are three data biases that can affect the reported performance of separate accounts and collective investment trusts :

It is also possible that those separate accounts and collective investment trusts that are very successful have little or no incentive to report their performance to a voluntary database because they have already attracted a sufficient number of investors.  This would lead to a downward bias of separate account/collective investment trust  performance reported by the databases.