MSCI has agreed a deal to acquire London-based boutique index provider Foxberry in a bid to boost its customisation offering.
The index provider said it plans to utilise the group’s foxf9 platform to enhance its ability to offer client customisation.
Foxberry was founded in 2014 with a focus on index and strategy creation through hyper-customisation, back-testing and simulation capabilities, sustainability criteria and reporting via its foxf9 platform.
The provider was primarily used by thematic and sustainable ETF issuers. Rize ETF – now ARK Invest Europe – uses the index provider exclusively for its product range while Legal and General Investment Management (LGIM) used Foxberry on its regional Paris-Aligned Benchmark range.
MSCI said it will look to integrate the platform to provide a “client-centric, interactive experience…for a wide variety of investors”.
Jana Haines, head of index at MSCI, commented: “Investors face the challenge of balancing competing investment objectives.
“This acquisition will allow MSCI to better meet demand for customised portfolios that reflect unique views and meet specific outcomes, emphasising our commitment to providing tailored index solutions.”
Henrik Brunlid, co-founder and CEO of Foxberry, added: “The merger of Foxberry with MSCI will greatly improve the feedback loops for our clients within all areas relating to index research and development.”
The deal, for an undisclosed fee, is expected to close in the second quarter of this year subject to regulatory approvals.