The deal marks the latest in a number of acquisitions for FE fundinfo which acquired cashflow modelling software firm CashCalc in May. 

FE says the latest acquisition will combine FE fundinfo’s fund data and technology expertise in the UK, Europe and Asia with FundConnect’s services for the Nordic and European fund industries. 

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FundConnect was founded in Copenhagen in 2000 and collects and distributes fund data across Europe specialising in data collection, data distribution, web solutions and fund document production. 

FundConnect and the Danish Investment Association jointly own FundCollect which serves the Danish mutual fund industry, including Danish fund groups and international funds operating in Denmark.

FundConnect also supports a number of industry initiatives such as the European Fund Classification (EFC) by the European Fund and Asset Management Association (EFAMA).

FE fundinfo says it has many shared clients which are supported by FundConnect and the companies will aim to offer a “broader set of complementary services” to their clients.  

Hamish Purdey, chief executive at FE fundinfo, said:  “The fund distribution landscape is becoming ever more global and the need for greater efficiencies for data exchange cross border is something FE fundinfo aims to facilitate through its leading fund data distribution services. 

“We have been impressed with the key role FundConnect has played in improving fund data standards. Their approach to building innovative technology solutions helps to bring that data to life for the benefit of fund managers, fund distributors and investors. We’re delighted to welcome them to the FE fundinfo family.”