Thomson Reuters has acquired the mutual fund database of The Globe and Mail, the two companies said Friday.
The acquisition broadens Thomson Reuters content and expertise in Canada and expands its Lipper mutual fund business. Terms of the agreement were not disclosed.
The three acquired assets are part of the Globe‘s offerings for financial firms in the Canadian fund management market. They include the database of Canadian mutual funds which tracks over 13,600 open-end, closed-end and exchange traded funds; the fund fact sheet business; and the mutual fund and equity data feed businesses.
Insurance companies, fund management firms and other institutions license the mutual fund content via data feeds and/or fund fact sheets. The content is also published in The Globe and Mail newspaper, and magazines and digital properties such as Globeadvisor, Globe Investor Gold, Tracker and ProStation, which are targeted at individual investors and financial advisors.
“This acquisition will help us to provide additional customer value and reinforce our position as the leading provider of fund intelligence,” said John Fennelly, managing director and head of Wealth Management at Thomson Reuters, in a release.
“Lipper solutions are designed for financial professionals engaged in fund selection, performance analysis, product management and marketing,” commented Lars Asplund, managing director of Lipper.
“Combining high-quality, comprehensive global fund coverage with robust capabilities for detailed analysis and reporting, these will now be made available to the Globe’s customers,” Apslund said.
Existing Thomson Reuters customers will benefit from having expanded and more detailed Canadian mutual fund content across Lipper and other Thomson Reuters products.