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After a reasonably long ownership with NZX the business was finally sold to Melbourne-based Zenith Investment Partners in 2019. Zenith had plans to reboot the business including its Fund Manager of the Year awards.
However, Zenith was sold and the business ended up with FEfundInfo based in Sydney. Now, NZME-owned BusinessDesk has bought FundSource.
We've also taken over FundSource, the definitive data source for KiwiSaver and managed funds. It was originally a product of the New Zealand stock exchange (NZX), but was sold to Zenith Investment Partners in 2019.
BusinessDesk general manager Matt Martel says "FundSource is an esteemed investment research house that has provided data analysis to financial advisers and fund managers for several decades."
"The BusinessDesk iteration of FundSource will launch later this month. It will offer detailed data on KiwiSaver and managed funds, including league tables, with the ability to compare funds and other performance data. It will also show the inflow and outflow of funds from each firm, and data will be updated daily."
Martel says FundSource will restart with quantitative data and will look to add research later on.
While in the past FundSource sold research to financial advisers and fund managers people wanting to access data will need to buy a subscription to BusinessDesk.
He says FundSource is a good fit for the publication and will round out its offering which already includes NZX and ASX data. For FEfundinfo FundSource was an orphan business in New Zealand.
Martel says FundSource would look to resume its fund manager of the year awards at some point.
FundSource, which was originally IPAC, has arguably the biggest database of managed fund data in New Zealand.
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