The Luxembourg-based fund data outfit Kneip has struck an exclusive deal with Nasdaq to bring increased visibility for European investment funds to American investors.
The agreement means that European investment funds can receive a unique 5-character symbol on the Nasdaq Fund Network, which Nasdaq said provides data “for over 35,000 investable products to 100 million plus investors.”
Nasdaq is the second largest stock exchange in the US, handling market capitalisation of roughly $22.3trn.
Kneip stated that it provides fund data and reporting services for 40% of European Ucits (retail investment funds).
Enrique Sacau, Kneip’s CEO, said in a press release on 22 November: “We are obviously delighted to take to market a concept that has served the asset management industry in the United States very well and which has clear benefits for our European customers and partners. We are proud to be the exclusive European fund administration partner of Nasdaq Fund Network.”