Mutual fund companies with high-net-worth clients will soon find new competition from an online hedge fund company that hopes to remove the mystique surrounding hedge fund investing. of Locust Valley, N.Y. currently posts hedge fund information and performance data on 1,100 funds. The firm plans to go beyond that to enable investors to buy and sell interests in hedge funds online via an electronic trading system it will launch on its website in the first quarter of 2000.

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