As the availability and volume of new types of data skyrockets, many hedge fund managers are adopting a “quantamental” approach to investing that combines fundamental investment analysis with “a more quantitative approach,” according to a recent report (Report) issued by the Alternative Investment Management Association (AIMA) in conjunction with global fund service provider SS&C Technologies Holdings, Inc. The Report enumerates the results of AIMA’s survey of 100 hedge fund managers, which gauged their perspectives on alternative data sources, the challenges of using alternative data and the prospects for more widespread adoption. It also offers practical guidance for managers considering using alternative data. This article outlines the key takeaways from the Report. For additional industry insights from AIMA, see “Survey Identifies Drivers and Obstacles for Sustainable Investing” (Apr. 2, 2020); “AIMA Survey Examines Evolution in the Ways That Managers Align With Investors” (Nov. 7, 2019); and “A Recap of AIMA’s 2019 Global Policy & Regulatory Forum” (May 23, 2019).