Research on the often opaque hedge fund industry is about to get a little easier for qualified investors through a new online platform providing detailed information on 1,900 hedge funds that are seeking investor capital.
MyFundFinder.com, from MyFundFinder LLC in Fairfield, Iowa, which combines an extensive hedge fund database with a new technology platform, is scheduled to launch Monday with free access for institutional and wealthy individual investors.
The platform is the result of a collaborative effort by Fairfield, Iowa-based BarclayHedge Ltd. and Chicago’s Global Fund Technologies LLC.
What is most unique about the platform, according to Sol Waksman, BarclayHedge president, is the idea of giving potential investors free access to detailed data provided by a broad universe of hedge funds.
During the initial launch period, hedge funds are being invited to participate for free, but the business plan ultimately relies on hedge funds paying a fee to be on the platform.
Mr. Waksman would not discuss details of what those fees would be, but he said the platform will also be relying on advertising revenue.
BarclayHedge, which is not affiliated with The Barclay Group in London, has been tracking hedge fund performance as a database since 1985.
The universe of available investments will grow as the platform adds funds of hedge funds and managed futures funds, Mr. Waksman said.
“We expect the number to go up by another 600 to 800 funds when we get beyond just single-managed hedge funds,” he said.
In terms of the timing of the launch, in the midst of extreme market turmoil and economic uncertainty, Mr. Waksman explained that those events were obviously beyond his control and that there is still plenty of money being invested.
“There are a lot of hedge funds losing money and there are a lot of nervous investors,” he said. “But there is still money to be made and the smart money is still going to work.”
Mr. Waksman added that it is “investing 101 that when the blood is running in the streets, that’s the best time to invest.”
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