Online UK fund information specialist TrustNet and Financial Express Prestel, a fund data supplier, ...
Online UK fund information specialist TrustNet and Financial Express Prestel, a fund data supplier, have merged their services to create a "full solution partnership" for fund providers.
According to the companies, both private firms, the deal will mean UK fund providers will have access to a centralized facility for the collection, assembly and presentation of fund data and information.
Through a data partnership with providers, the two services will manage and maintain data requirements, including daily prices and dividends, factsheets, histories and total return performance statistics, capital events and key features documents.
More online tools will be created, such as plans to expand the charting facility, says Paul Wynne, TrustNet marketing manager.
Between them, the two companies already distribute data to all UK fund supermarkets, more than 4,000 IFAs, data analysis software packages, institutional terminals and financial websites and portals.
TrustNet is a free daily updated fund information service and covers all UK authorized funds. More than 8,000 funds are listed. The online service, which currently records between 120,000-190,000 user sessions a month, will remain free of charge to private investors and intermediaries.
The main activities of Financial Express are to collect, validate, database and disseminate equity and fund data, as well as provide tools to display and analyse the data. Information vendors currently using Financial Express services include Bloomberg, Reuters and Morningstar.
"This union of front and back office information accelerates the natural development in both business models," notes Michael Holland, md at Financial Express Prestel.
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