NEW YORK - Most hedge fund managers are willing to share information about their funds over the Internet, but many harbor concerns about what to reveal and to whom, a survey found.

The survey by KPMG LLP found that 82% of the 28 hedge fund managers and executives surveyed said they were "very willing" to share performance information on the Internet with current investors, but only 21% were as eager to share position holdings with them.

Hedge fund managers were less willing to share information with potential investors, according to the survey. Only 8% were very willing to let them see daily performance information, and 4% were very willing to show them position holdings.

Private bankers and other asset managers are increasingly interested in offering hedge funds as an investment alternative, but lack of transparency has been a deterrent, said Claudia Holz, a partner in KPMG's investment management services group.

"Banks and leaders in the industry have been unhappy with the level of information they're getting, so the [hedge fund] industry is coming out of the closet," Ms. Holz said. The challenge for hedge fund professionals is to balance transparency with responsibility, she said. For instance, most hedge fund managers are reluctant to reveal position holdings because that could skew market results, she said.

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