Since it first launched in late 1998,
Vestek has added more than 100 fund companies to its Select research program. Now, it's bagged one of the biggest remaining fund firms.
Janus has agreed to use the service to provide information to its distributors.
Vestek Select allows fund companies to provide data and analysis about their holdings and performance to distributors. This data originates with the fund companies, who electronically transmit the information to Vestek on a regular basis. Vestek independently verifies and analyzes the data. Vestek then produces a report whose contents are chosen by the fund company, but whose analysis is standardized according Vestek's calculations. The results are evaluations comparable from company to company, regardless of each company's individual accounting practices.
According to Janus, two factors figured into its decision to use the Vestek program. First, the service allows them to supply their distributors with consolidated, standardized information. Second, Janus retains the discretion to choose what information will be released, and when.
In an unrelated move, Vestek also announced that Strong Capital Management, an existing client, increased the number of funds it is including in the program from four to 31.
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