For those after information on hedge funds, the internet is a rich source. www.PlusFunds.com gives up-to-date net asset values and daily risk analysis reports, produced by Standard & Poor, as well as providing a secondary marketplace to trade hedge funds shares on the Bermuda stock exchange. Another neat touch is the watchlist. You can customise the site to email you a fortnight before a subscription or redemption date for any specific fund and the site lets you know when a pre-selected fund crosses a particular VaR target. Information is available in 10 languages.
The site www.hedgeworld.com, founded by Bermuda-based HedgeWorld and Tremont, the information provider, calls itself the first e-commerce platform for the hedge fund industry. The highlight of this site is being able to access the TASS+ database that covers rates of return, NAVs, alphas, betas and investment-style descriptions for more than 2,200 funds and 1,700 managers. Registered users can, for a fee, buy more detailed research reports.
GFA, the London-based fund researchers, publishes a special hedge fund report every two months. Each issue concentrates on a single sector and analyses the performances and investment strategies for offshore funds. Funds are given ratings according to risk management, performance and the consistency of the style and management team. For $6,950, you can commission a report on selected funds – website address, www.globalfundanalysis.com.
Financial Risk Management has recently launched its site www.frmhedge.com, dedicated to hedge funds. Strategy definitions, performance tables, the differences between traditional funds and hedge funds and the rationale behind hedge fund investing are all covered here.
AIMA, the forum for alternative investment management, publishes a monthly newsletter which incorporates a section devoted to hedge funds. Its website, www.aima.org, has useful links to related sites and then onto hedge-fund related sites. One of the links listed is www.hedgescan.com, a database that collects fund information and data straight from fund managers.
The Managed Funds Association’s website is www.mfainfo.org – a US-based association of managed funds professionals. It lists conferences, events and gives access to the MFA newsletter and academic papers on the industry. Over 250 links provide access to relevant hedge funds, exchanges, brokers, trade associations and publications.
Marhedge, the information provider for alternative investments, has a database tracking approximately 1,400 hedge funds and bespoke reports are available at a minimum cost of $400. It also publishes a monthly newsletter covering the industry and twice a year produces a performance and evaluation directory containing statistics and contact details for more than 500 hedge funds. The company website, www.marhedge.com, has contact details in addition to daily news.
Data for the CSFB and Tremont hedge fund index, can be found at www.hedgeindex.com. This site is simple and provides six years of data for the overall index and the sub-indices for sectors including global macro, convertible arbitrage and long/short equity. Dickon Reid

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