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Broadridge expands Europe fund analytics with MackayWilliams deal

Contract_handshakeMackayWilliams, a compiler of asset management brand rankings, has thrown its own brand in with Broadridge Financial Solutions in a deal that helps the latter US-based firm gain ground in European fund analytics.

London-based MackayWilliams, founded in 2010, has been sold by its founders to Broadridge for an undisclosed sum.

Founders of MackayWilliams include Diana Mackay, joint chief executive, who previously co-ran Feri FMI, which compiled net sales data for European funds.

Feri FMI was subsequently sold to Lipper (now Thomson Reuters Lipper) in 2007 and certain of its assets were then sold to Broadridge. This enabled the US tech-driven analytics firm to eventually cover 82,000 funds globally and means ties between Broadridge and MackayWilliams existed before the current deal.

One of MackayWilliams’ best known product is its ‘Fund Brand 50’, which uses feedback from around 1,000 European distributors to rank asset manager brands for perception and recognition.

The acquisition will combine Broadridge’s fund data and analytics with MackayWilliams’ European mutual fund trends, brand perceptions and fund selector behaviour. Broadridge said the deal also enhances Broadridge’s international growth strategy.

The firm claims it now has a “360 degree view” of fund distribution, spanning institutions and retail markets.

Mackay said the synergies between the two businesses offered “huge opportunity” for expanding the coverage of fund trends.

Dan Cwenar, head of asset management data and analytics at Broadridge, said MackayWilliams had developed a “deep understanding of fund selectors’ buying behaviour” across Europe.

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