Sourced comparison · reviewed 20 October 2026
Hedge fund database: six research sources compared
By Dan Keegan · Page updated
Hedge fund database research starts by defining the records needed: manager profiles, fund returns, terms, allocator information or historical observations.
The FCA Financial Services Register is the separate place to check a UK firm’s identity, status and relevant permissions; a commercial data entry does not establish authorisation or suitability.
The six examples below are an alphabetical, unranked selection with official hedge-fund coverage evidence, not a list of funds to invest in.
- Six sourced examples
- Alphabetical, unranked selection
- Practical evaluation checks
Six official sources
Which six data platforms have official hedge-fund coverage evidence?
The selection includes dedicated and broader institutional platforms whose official pages explicitly describe hedge-fund coverage.
Ask for the exact dataset and licence: the product families differ, and a manager record, fund, share class and return series are not the same counting unit.
Showing 6 of 6 · listed alphabetically, not ranked
Alphabetical and unranked; official descriptions checked on 20 October 2026.
These are published capabilities, not hands-on product tests, endorsements or independently verified service outcomes.
Follow the responsibility
Is the research about performance, fundraising or people?
A hedge fund database can serve several questions without answering all of them equally.
Preqin’s product page describes fund and investor research, while HFR’s database page focuses on fund profiles, performance and licensed data access.
- ManagerThe organisation and relevant team.
- FundThe legal vehicle, strategy and terms.
- Share classCurrency, fees and access conditions can differ.
- ObservationA dated return or other measurement, not a manager.
Compare the evidence
Which fields should be checked before comparing datasets?
A hedge fund database trial should use the same known sample and field definitions across suppliers.
| Field or scope | Ask the supplier | Why it matters |
|---|---|---|
| Returns | Net or gross, currency, frequency, estimates and revision policy. | Apparently similar return series can use different definitions. |
| Historical population | Inactive records, stop-reporting dates and availability of first-observed dates. | Today’s active funds do not reconstruct the universe visible in an earlier period. |
| Contacts / allocators | Roles, date checked, permitted use and access entitlement. | A profile entry does not establish a current allocation mandate. |
| Delivery | Exact seats, downloads, API, internal sharing and redistribution rights. | A free login or demo does not necessarily license dataset access. |
Follow the responsibility
Why can voluntary reporting distort a performance sample?
Hedge fund database performance research must distinguish returns earned in the market from the way records enter and leave a dataset.
Agarwal, Fos and Jiang’s study examines selective reporting in a historical sample; Malkiel and Saha discuss backfill and survivorship effects.
These studies support checking the mechanisms, not applying one historical bias percentage to every current supplier.
- SelectionReporting funds can differ from non-reporting funds.
- BackfillPast returns can be added after a fund joins.
- SurvivorshipExcluding disappeared funds can change results.
- RevisionA later corrected value may differ from what was known then.
Seven practical checks
Which seven checks belong in a data-provider trial?
Use a hedge fund database trial to answer a defined research question rather than compare headline record counts.
- 01
Define the unit
Separate managers, vehicles, share classes, master-feeder structures and observations.
- 02
Choose a known sample
Use a documented UK/Europe strategy sample and record the selection criteria.
- 03
Check field definitions
Confirm strategy labels, currency, net/gross returns, fees and liquidity terms.
- 04
Inspect historical entry
Ask when each record was first observed and whether earlier returns were backfilled.
- 05
Include missing and inactive records
Record gaps, liquidations and stop-reporting dates without silently dropping them.
- 06
Test the licence and export
Confirm access conditions, seats, API/download limits and permitted reuse in writing.
- 07
Verify identities independently
Check the correct legal entity and relevant register separately from commercial profiles.
Follow the responsibility
What would a fair two-provider sample comparison look like?
A hypothetical analyst chooses 50 named fund vehicles before opening either trial, using the same strategy, region and observation date.
If 40 match in one dataset, sample coverage is 80%; that does not mean the provider covers 80% of all hedge funds or offers better returns.
Retain unmatched and ambiguous share-class records so a larger result count is not mistaken for superior research quality.
- PopulationState how the 50 vehicles were selected.
- MatchingUse identities rather than approximate name alone.
- GapsRecord missing fields and ambiguous cases.
- ConclusionDescribe this sample, not the whole industry.
Use your own figures
What share of your defined sample was matched?
This hedge fund database tool divides matched records by a sample you define.
A fictional 40 matched records out of 50 gives 80%; this is a coverage calculation, not a quality score or investment metric.
Your figures · arithmetic only
Sample coverage (%) = matched records ÷ records in your defined sample × 100.
Use the same vehicle/share-class matching rule and research date. The result is specific to your sample; it does not estimate industry coverage, representativeness or investment suitability.
Follow the responsibility
When is a public market monitor useful instead?
The US Office of Financial Research Hedge Fund Monitor presents aggregate industry measures derived from regulatory and other sources.
It can inform market context but is not a named-fund manager database or a substitute for licensed records and their definitions.
For the records a fund itself prepares, read fund administration and fund reporting software.
- Named recordsA licensed dataset suited to the specific research unit.
- Industry contextAn aggregate monitor with its own reporting boundary.
- Legal statusThe relevant official register and entity checks.
- Own operationsThe fund’s approved books and reporting process.
A large dataset can still omit the records that matter to the question.
Separate manager research from a hedge-fund hiring brief →questions
Which questions remain?
No. A login, trial or demo may not include dataset downloads, historical records or redistribution rights.
Not in this selection.
Eurekahedge data has moved to With Intelligence; treating both as independent examples would duplicate the platform.
No. It can address one sample-selection problem, but voluntary reporting, backfill, missing data and revisions need separate checks.
No. It is aggregate market monitoring, not a named-fund purchase list or an investment recommendation.
sources
Which sources support this guide?
Primary sources for the rules and figures on this page.