"Limited customer relationship data has long been available to our journalists, and has never included clients' security-level data, position data, trading data or messages, " the spokesman said in a statement.

WSJ: Bloomberg Curbs Its Journalists' Access to Customer Data

Management of internal datasets is resource intensive and, depending on the level of the relationship and communication between fund and investor, inconsistencies may arise in the data across firms.

FORBES: Hedge Fund Transparency: Is It Possible?