In tough times, pension plan executives love getting something for nothing. Now, that free lunch includes hedge fund transparency and analytics.
HedgeACT is a new website from Global Fund Technologies LLC that offers investors free and unlimited access to data about more than 7,500 hedge funds that HedgeAct licenses from Morningstar Inc.'s hedge fund database. Both firms are in Chicago.
In addition to transparency that includes daily, weekly and monthly performance and portfolio data validated by third-party administrators, HedgeACT also offers investors free analytics, including the ability to consolidate data for a full hedge fund portfolio analysis.
HedgeACT is manager-funded: For a fee, hedge fund managers can add up-to-date performance and investment strategy information beyond the standardized information they send to Morningstar, said Michael E. Griffin, founder and chief executive officer of Global Fund Technologies. Managers also can post information about new funds in a special fund launch section on the website. Managers can communicate directly with prospective investors, if the investor permits it, and can observe the number of times investors are checking out their funds.
And just to make the website more human, HedgeACT includes a blog section and an online community forum. Christine Williamson