Bermuda-based HedgeWorld Ltd. yesterday went live with an Internet site providing information to investors, administrators and managers involved in the booming hedge fund business.

The venture is backed by Tremont Advisers, Inc., a Rye-based consultancy which founded the Bermuda company. Tremont has an office in Bermuda. Hedgeworld has four employees in Bermuda.

Bob Schulman, chairman of HedgeWorld and president and chief executive of Tremont, yesterday said the online venture will make public information that wasn't previously available.

He said while a lot of news and information on hedge funds will be available free of charge at the site, the main revenues will come from hedge fund managers looking for a more efficient way of handling administration and service provision to investors.

"We think this is the sweet spot,'' he said yesterday at a press conference in New York. "Hedge fund managers want to manage. They don't like doing the administration and service provision. We believe that HedgeWorld is a vehicle that can reinvent the way the hedge fund industry manages information.'' CONFERENCE CON