The Pricing and Reference Data business of Interactive Data Corporation will provide its Fair Value Information Service (FVIS) for international equities to Russell Investments for use in providing fair value adjusted information on Russells global equity indices.
This information is designed to help investment professionals effectively compare the performance of their international funds to benchmark indices by incorporating information that approximates the funds fair value procedures for international equity securities. Russells fair value adjusted index data will be available in a monthly report to clients of Russell Investments and Interactive Data, as well as to the public via Russell Investments website.
Russell will initially provide fair value adjusted index data based on its equity indexes that reflect the following comprehensive market segments: Global, Global Large Cap, Global Small Cap, Global ex-U.S., Developed Large Cap, Developed ex-North America Large Cap, Developed Europe, Asia Pacific, Asia Pacific ex-Japan, Emerging Markets, Global ex-Frontier, and Global ex-Frontier Large Cap.
Susie Caswell, senior product manager for Russell Indexes at Russell Investments:
By employing Interactive Datas service on top of our truly reflective and modular index construction, well serve those investment managers who use fair value adjusted pricing for their international funds with another way to examine returns. As the only index provider whose primary business is investment management, we understand the importance of accurate analysis of performance measurement.
Liz Duggan, managing director, Evaluations:
Interactive Data believes that the mutual fund community can benefit from fair value adjusted benchmark index data from Russell, as it offers more of an apples-to-apples comparison for measuring fund performance. We look forward to continuing to explore other applications for our Fair Value Information Services that can help address challenges faced by financial institutions.
L.D.