New York
22 May 2015
Reporter: Stephen Durham
Broadridge announces acquisition
Broadridge Financial Solutions has signed an agreement with Thomson Reuters to acquire the Fiduciary Services and Competitive Intelligence unit from Thomson Reuters Lipper. Terms of the agreement were not disclosed.

The agreement with Thomson Reuters also includes a long term content and brand licensing services agreement in which Thomson Reuters Lipper will provide Broadridge with data on investment product classifications, pricing, performance, benchmarking, product asset positions, and product flows, ensuring continuity of underlying content and methodology.

The acquisition will expand Broadridge's leading enterprise data and analytics solutions for mutual fund manufacturers, exchange-traded funds issuers, and fund administrators, adding new global data and research capabilities.

Thomson Reuters Fiduciary Services and Competitive Intelligence business provides global market intelligence for fund industry flows by country and distribution channel.

It is also the leading provider of 15(c) advisory contract renewal services for validating and benchmarking fee and expense agreements to more than 250 mutual fund families, including three-quarters of the world's largest mutual fund organisations.

"This acquisition will reinforce Broadridge's position as one of the leading providers of data solutions and market intelligence for the mutual fund sector, and expand our footprint globally," said Richard Daly, president and CEO of Broadridge.

"It is aligned with our long term strategy to grow Broadridge's enterprise data and analytics capabilities. As regulatory pressures increase and new digital opportunities emerge, these solutions will help our clients mitigate risks, meet their fiduciary responsibilities and enhance sales productivity."

Broadridge will integrate the acquired capabilities within its mutual fund and retirement business, expanding its existing Access Data suite of market intelligence solutions.

These include compliance and reporting tools that cover 90 percent of all US long-term mutual fund assets and 95 percent of all exchange-traded fund assets.

Gerard Scavelli, president of Broadridge's Mutual Funds and Retirement Solutions business division, commented: "With the addition of these fiduciary services and competitive intelligence capabilities, we will expand our reach and innovative solutions for the mutual fund industry globally.”

“These new capabilities will help our clients meet the growing demand for compliance oversight, fee benchmarking and analysis and global market intelligence, including access to fund flow, expense data and fund profile information on more than 80,000 portfolios worldwide."

The acquisition is expected to close during Q4 Broadridge's fiscal year and is subject to customary closing conditions, including the termination or expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
BNP Paribas: ESG investment seeing increased interest
25 May 2017 | London | Reporter: Stephanie Palmer
The survey report noted that 77 percent of asset owners already incorporate ESG aspects into their strategies
Nasdaq to support Chilean CSD in post-trade tech
25 May 2017 | Santiago | Reporter: Stephanie Palmer
Based on the Nasdaq Financial Framework the solution will replace Depósito Central de Valores’s existing core system
Funds need to keep an eye on BEPS negotiations
24 May 2017 | London | Reporter: Becky Butcher
Fund participants were encouraged at Guernsey’s Fund Forum to pay close attention to negotiations over base erosion and profit sharing (BEPS) rules
Northern Trust expands UAE operations
24 May 2017 | Abu Dhabi | Reporter: Stephanie Palmer
Northern Trust has opened a new branch office in Abu Dhabi, as part of a continuing focus on business in the UAE
R3 raises record funds for DLT development
24 May 2017 | London | Reporter: Stephanie Palmer
The R3 group has raised $107 million in two tranches of fundraising, securing the largest ever investment in distributed ledger technology to date
Promotions abound at Interstrust in Jersey
24 May 2017 | Jersey | Reporter: Stephanie Palmer
Intertrust in Jersey has made a spate of promotions, including elevating Sherin Sugeeswaran to the role of associate director in the fund services team
RSRCHXchange boosts research offering with data consumption partnership
23 May 2017 | London | Reporter: Stephanie Palmer
Institutional research marketplace RSRCHXchange has partnered with corporate access management solution provider CorpAxe in order to make research consumption data available to the buy side
More news