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November 17, 2003 at 07:00 PM
NEW YORK (HedgeWorld.com)–Optima Fund Management LLC has signed on to make its fund of funds marketing and reporting information available on a web-based platform run by IntraLinks Inc.
In doing so, Optima has become the first hedge fund client to use IntraLinks’ platform. IntraLinks allows financial firms to post information, some of which is restricted to certain investors, in a secure fashion. It is meant to reduce the amount of mail, faxes and e-mail that financial firms send to their investors by making that information available on an Internet platform. It also addresses security concerns related to allowing only investors authorized to view certain information access to that information.
Adam Sloan, senior vice president for business development at IntraLinks, said his firm is just the messenger.
“We have set up a system that managers can use to post the information themselves,” Mr. Sloan said in an interview. “We don’t touch it [the information].”
Managers can post everything from private placement memos to monthly performance updates using IntraLinks. They can then specify which investors should have access to what information. IntraLinks then restricts access using password protection.
Say, for example, that a hedge fund manager offers six funds and that the manager has made information about all six available to investors via IntraLinks. One person might have invested in three of those funds, and so that person only would have access to information about the three funds in which he or she has invested, Mr. Sloan said. Information about the other funds would be protected and accessible only to investors in those funds.
