The Managed Funds Association, the hedge fund industry's major lobby group, hired PerTrac Financial Solutions, a financial software provider, to provide technology for its new data collection project, confirmed Steve Hinkson an MFA spokesman.
MFA intends to gather basic information from hedge funds, hedge funds of funds and managed futures managers, such as assets under management, fund and employee information, for use in its advocacy and education efforts. PerTrac's P-Card system will allow managers to submit data confidentially via a secure e-mail system. MFA will hire a third-party accounting firm to use P-Card to collect hedge fund manager data on its behalf.
The MFA will “gather and aggregate information that will allow us to better understand and represent the global alternative investment industry,” Richard H. Baker, MFA's president and CEO, said in a news release.
MFA stressed in its news release that hedge fund data will be shared with outside parties only on an aggregate basis.
Mr. Hinkson did not have information about when the MFA will begin its data collection.