Tremont Partners Inc., Rye, N.Y., formed HedgeWorld Ltd., Hamilton, Bermuda, an Internet company that will offer a community Web site focused on the hedge fund industry.
The worldwide web site, www.hedgeworld.com, is slated for launch first quarter of next year and will offer investors, hedge fund managers, regulators and the media a means of collecting and offering information on the hedge fund industry, HedgeWorld executives said.
Included in the site will be analytical tools, performance data and electronic-commerce platforms, HedgeWorld executives said.
It will also allow customization of data delivery, such as requesting e-mailed information on specific hedge fund managers as the data becomes available.
The site will offer varying levels of membership, including free access to the names, net asset values and manager styles for hedge funds in TASS Management Ltd.'s database, as well as advanced features that will cost money, said Johann Wong, president and founder of HedgeWorld, and formerly president and director for Tremont (Bermuda) Ltd, Hamilton, Bermuda.
TASS recently agreed to merge with Tremont.
Hedge fund managers seeking to target specific types of potential investors can send customized electronic missives via the Web site, while investors can elect to receive information on existing and potential hedge fund managers the same way, Mr. Wong said.
The costs will be borne by multiple parties: investors, managers and advertisers will all support the community through to-be-determined fees, Mr. Wong said.
The site is for-profit, with Mr. Wong, Tremont and a group of institutional and high-net-worth investors sharing ownership in the company, he said, adding that no single entity can control the endeavor.
HedgeWorld will be competing with existing hedge fund-oriented Web sites, including:
*www.hedgefunds.net, by Info-Web Technologies Inc.;
*www.hedgefund.net, by Sierra Partners LLC;
*www.thehfa.org, by the Hedge Fund Association;
*www.hedgescan.com, by Lamp Technologies Inc.; and
*www.altvest.com, by ALTVEST Inc.