Fund data provider FE fundinfo has acquired Zenith Group, an Australian research and adviser technology provider.

The deal will combine two fund data and research providers in both Europe and the Australian Pacific region with asset manager and adviser-focused services.

Zenith Group was founded 20 years ago and has grown to support advisers with ratings on more than 1,000 investments and superannuation products.

It also has more than 150 investment portfolio solutions, as well as being one of the first multi-asset adcount providers in Australia and now manages in excess of AUS $3bn (£1.6bn).

The deal brings together two of the leading fund data and research providers in Europe and the APAC region with a complementary set of asset manager and adviser-focused services.

Zenith Group chief executive officer David Wright said: “The acquisition presents a really exciting opportunity for the broader Zenith Group and I am looking forward to working with FE fundinfo to expand our research, data and technology solutions offering to Australian clients, while also giving us the opportunity to explore a global reach.

“Management are in agreement that there’s excellent alignment of values and purpose across the two organisations, and a belief that together, we can create a really compelling premium service for advisers, fund managers, super funds and institutional clients.”

FE fundinfo opened its Sydney office in 2014 and has a global headcount of 838 with operations worldwide. It works with nearly 1,000 asset managers, fund managers and fund distributors, and close to 4,000 financial advisers.

Its most recent acquisitions include environmental, social and governance specialists CSSP in 2020 and cashflow planning provider, CashCalc and fund data technology company Fundconnect in 2021.

FE fundinfo chief executive Hamish Purdey added: “As factors such as increasing regulation, the growth in ESG investing and the development of new technology all continue to revolutionise the global funds industry, there is a greater need than ever for advisers and asset managers to have access to the very best data, ratings and research to allow their clients to make the most of the opportunities in this new landscape.

“Zenith Group holds an enviable reputation in Australia; not only for the quality of both their research and consulting services, but also for their impressive technology and data capabilities.

“Combined with our own expertise, data, technology and ratings services, we will be able to further support and meet the needs of the global investment industry and deliver new and even more innovative solutions for our clients.”