Hedge Funds Hope To Keep Research Secret Longer

Jan 26 2015 | 10:57am ET

Loose lips sinks ships—and hedge fund deals—which is why some hedgies are concerned about data providers revealing their reading habits.

According to the Wall Street Journal, Bloomberg, S&P Capital IQ and other data providers have a long-standing practice of informing banks and brokerages which of their reports are being read by hedge fund firms. The data can be as granular as which person in a firm read a particular report.

Hedge fund managers worry that banks and brokers can see the companies the hedge funds are researching, although the paper said there is no evidence of damaging information leaks resulting from the data sharing.

Nevertheless, people with knowledge of the matter told the paper that in some cases, Bloomberg and others have agreed to wait longer—sometimes as long as 90 days—between the time a report is viewed and the time that viewing is reported.

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