S&P Capital IQ is set to shut down its fund research and rating business in following a strategic review.
The company, which has operating the fund research since 1990, has written to clients informing them that it is likely to discontinue its fund research and funds ratings/gradings business as of 31 March this year.
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However, the company said that the move will not affect other services it offered.
The closure follows S&P Capital IQ’s statement in August last year that it was preparing strategic alternatives for the business.
The firm’s fund research business has evaluated over 20,000 retail and institutional funds from the time of its launch.
S&P Capital IQ distributes fund ratings and research reports to wealth managers and advisers through various UK’s platforms including Transact, Trustnet, Ascentric, Pershing and Aviva as well as rates funds from major groups such as Invesco Perpetual, Insight Investment, Legal and General and Schroders.
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