Lock up period - Hedge funds

Schweser, " fumds with longer lock up periods tend to produce higher returns than funds with shorter lock up periods" Cane someone please answer question 24, pg 122 volume 5 in the CFAI text inlight of the above statement. Thx

CFAI text doesn’t make that statement (that performance is better for funds with longer lock-ups). It only states that a lock-up of 1 to 3 years is common and the rationale for such lock-ups is so the HF manager doesnt have to unwind securities at unfavorable prices (be a forced seller). With that said, a five-year lock-up is very long and is most akin to a PE fund, not a HF. Thus, the answer is saying that having your money locked-up for five years in a HF is not an advantage. Had the statement said 2 or 3 years, then it would have been correct.