Fund data and technology provider FE fundinfo has acquired Center for Social and Sustainable Products (CSSP) for an undisclosed sum.

The transaction covers all of CSSP’s share capital, including its yourSRI.com platform, and bolsters FE fundinfo’ environmental, social and governance (ESG) capabilities, expanding its current spectrum of services.

Established in 2009, Liechtenstein-based CSSP is a consulting and research house that offers ESG data and reporting to clients to enable them to completely grasp the ESG and climate-related risks and opportunities within their investments.

CSSP founders Oliver Oehri and Christoph Dreher will now jointly lead the ESG product group at FE fundinfo.

Speaking on the deal, Oehri and Dreher said: “We are delighted to be joining the FE fundinfo team at a pivotal moment in the evolution of ESG investing. The reporting on extra-financial criteria has gained in importance in recent years and investors are rightfully asking for multi-dimensional risk assessments at portfolio level to effectively measure the corresponding exposure. Our services and bespoke solutions, that have been trusted by hundreds of clients, provide a holistic overview of the ESG profile.”

FE fundinfo CEO Hamish Purdey said: “Promoting and supporting ESG investing is at the heart of our strategic aims as a company, and as we move forward and further develop our reporting and analytical capabilities, CSSP’s expertise and services will play an important role in complementing our own, helping to support our next phase of growth and further empower our clients’ success.”

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FE fundinfo was established in 2018 through the partnership of investment adviser and software provider FE with fundinfo and F2C.

The firm offers a range of data coverage and product range of European and Asian markets, supporting fund managers and distributors across different markets.

The latest purchase will enable the company to better help its clients adapt to the forthcoming introduction of the sustainable finance disclosure regulations (SFDR) across Europe from March 2021.

Last November, Avaloq launched an ESG investment solution for banks and wealth managers that allows them to build personalised portfolios for clients.