FT Interactive Data, the supplier of financial information and analytical software, has formed a strategic alliance with CCLux, the main provider of UCITS data in Luxembourg, to disseminate the UCITS data and documentation via FTS, FT Interactive Data’s desktop portfolio administration tool.
FT Interactive Data will provide access to CCLux’s newly launched Fund Market Place Consultation Portal, which offers complete coverage of Luxembourg domiciled UCITS. Through this portal, FT Interactive Data subscribers will be able to access over 11,500 up-to-date net asset values (NAVs) and their history, over 10,000 prospectuses and legal reports downloadable in PDF format, generic and detailed descriptive data for each fund, as well as dividend and other corporate action information.
“We recently launched Fund Market Place Consultation Portal, an online reference database for all Luxembourg domiciled and registered UCITS accessible by all types of customers, private and professional alike,” explains Dominique Valschaerts, a member of the Executive Committee of the Luxembourg Stock Exchange and CEO of CCLux “We are delighted to be working with FT Interactive Data. In fact, this alliance provides us with an additional avenue for distributing our data and services which also enhance the package offered by FT Interactive Data, a highly respected vendor with global reach.”
Roger Sargeant, FT Interactive Data’s European managing director, added: “Our strategic alliance with CCLux reflects the importance that FT Interactive Data places on servicing the Benelux region and the wider European funds market. Coverage of funds data is increasingly important as back office functions seek a single solution for all asset classes. CCLux is in a unique position to capture all Luxembourg funds data and our alliance allows us to provide enhanced fund presentation and search capabilities – as well as online prospectuses – via our FTS service.”
The European investment funds market has grow n substantially in the past decade. Assets held in investment funds now account for over Euros 4 trillion euros of private and institutional wealth investment compared to circa Euros 500 billion at the beginning of the 1990s.
On the back of this, Luxembourg has established itself as the leading European centre for hosting and processing cross-border investment funds, and turned itself into the second largest investment funds market in Europe by asset values.
Despite recent financial market turmoil and the negative impact on the net asset balances held in funds, investors have not yet shown signs of shying away from funds but rather are shifting their investments from pure equity based funds to fixed income and money market funds. Inbound investment in funds outweighed redemptions in 2002, and the number of funds available on the market continued to rise. These trends are expected to continue in Europe for the near and medium term.