Mutual fund research giant
Fitzrovia, considered Lippers equivalent in London, specializes in the analysis of non-U.S. funds total expense ratios. In a statement, Lipper said it can now "provide clients with a truly global fund expense and data service in its software, datafeed and consulting products."
As part of the agreement, Lipper said that although Fitzrovias existing operations will grow, the company will retain its name and continue operating as a stand-alone division.
"Fitzrovia is an excellent fit with Lippers existing business operations," said Lipper Chief Executive Officer Michael Peace. "Fitzrovias core fee and expense data directly complements Lippers existing fiduciary business and is already integrated in our databases."
The managing director of Fitzrovia, Adam Fox, said, "Joining forces with another company is the obvious next step to take our research forward."
Lipper is owned by the news and information company Reuters.
