UK/GERMANY - Fund research specialist Feri Fund Market Information (Feri FMI) is to become part of Lipper, Reuters' specialist fund subsidiary.
Lipper will also take on board Feri FMI's fund database subsidiary FI Datenservice (FID), boosting the Reuters' subsidiary's presence in the German market.
Feri FMI is a joint venture between the German Feri Finance Group and the two founders of Fund Market Information, Rodney Williams and Diana Mackay, both sharing the position of chief executive at Feri FMI.
Williams confirmed to IPE all of Feri FMI's staff will be taken on board by Lipper and that for the moment the name will not be changed. London-based Feri Fund Market Information Ltd specialises in mutual fund analysis and research in the European domestic and cross-border fund markets.
In return, Lipper will provide an extended database for Feri Rating and Research to help it expand its international rating activities.
As part of this agreement, Lipper will also become the primary supplier of investment fund data to Feri Finance Group, allowing its Rating & Research division to expand its services internationally.
The transaction in which Lipper acquires assets of around €3m in value is subject to the final approval by the German Federal Cartel Office.
"The fit is great, bringing Reuters and Lipper's distribution together with the skills, relationships and expertise of the FMI team. Customers will also benefit from the combined operation, particularly those in German-speaking markets", commented Michael Peace, chief executive of Lipper.
Helmut Knepel, chief executive of Feri Rating and Research, said with the help of Lipper's global data collection expertise Feri will be able to enlarge its fund rating business "on a fully international basis".
The Feri Finance group comprises asset management, consulting, ratings and research.