Reuters plans to integrate the hedge fund data of its Lipper subsidiary into the DataScope Select delivery system. The move marks a significant advance in Reuters’ stated aim of targeting the hedge fund marketplace, which it sees as an area of major potential growth.
The addition of the Lipper Tass Hedge Fund Database to DataScope Select comes just as Reuters has signed a strategic collaborative agreement with Paladyne Systems, a provider of order management, portfolio management and CRM systems for hedge funds. The Paladyne arrangement gives Reuters what it calls a strategic distribution channel for DataScope into the hedge fund marketplace.
The new plan means that users of Reuters DataScope Select will now have access to the Lipper Tass Hedge Fund Database, which includes net asset values for more than 4,000 hedge funds. This capability will allow users to conduct comprehensive due diligence, monitoring and strategic development of asset allocation strategies for actual and model hedge fund portfolios.
Lipper Tass hedge fund data files are produced each day the New York Stock Exchange is open. The service is aimed at clients interested in researching hedge funds for allocation purposes, investment decisions or general due diligence on hedge funds. The database includes over 350 fields of data on approximately 3,900 hedge funds managed by more than 1,300 fund managers.
The Lipper Tass database is available via several modules: funds only; commodity trading advisor (CTA) only; funds and CTA combined; funds graveyard only; CTA graveyard only; and graveyard combined (funds plus CTA).
Until now, the TASS database had been distributed exclusively by , an application that allowed users to print detailed fund profile reports in .pdf format, with contact details, statistics, analytics, charts and qualitative notes. Users also can conduct search based geography, strategy, trading style or instrument, and compare funds on both qualitative and quantitative data points.
Reuters DataScope Select is Reuters’ flexible distribution mechanism for providing custom access to the Reuters database of pricing and reference data services.