Square Mile Investment, the investment consultancy and fund ratings service launched by OBSR founders Richard Romer-Lee and Nigel Whittingham is set to continue its recent expansion after a agreeing a partnership with fund research firm FE.
The deal will provide Square Mile with access to FE’s quantitative data, with the latter set to acquire a “non-controlling minority stake” in the nascent business ”in due course”.
Square Mile, which was launched in September 2013, is to launch its rating service launches at the end of the summer. The deal will mean both FE and Square Mile fund factsheets will include FE Alpha Manager, Crown Ratings and Square Mile fund ratings.
This year Square Mile has already announced a number of hires, including most recently the appointment of a head of investments and an analyst to its growing team.
Simon Davies, who was appointed chairman of Square Mile in January, said: “The strategic partnership with FE is a major initiative for Square Mile. FE has an unrivalled reputation in the market and we look forward to a long and fruitful alliance.
“With the increased regulation, there is a need for clients to undertake strong fund governance using both qualitative and quantitative research. This is a strategic partnership with FE enabling Square Mile to provide the level of high quality due diligence fund research that financial advisers and wholesalers require in today’s competitive environment.”
Michael Holland, managing director of FE, says: “We have had a long association with the senior management team at Square Mile during their former years at OBSR. We share a similar culture, worked with them on mutual clients and have similar objectives to provide clients with the best solutions.
“This strategic partnership will deliver enhanced solutions to all our clients and we are looking forward to working with Square Mile.”
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