The Financial Research Corporation (FRC
) monthly fund flows data and release are no more. Today Asset International
subsidiary Strategic Insight
, which acquired the bulk of FRC's assets, told the service's users that FRC "will not be issuing a separate press release on fund flows," as Strategic Insight already compiles and releases such data of its own.
"In the future, please refer to Strategic Insight's monthly press release on fund flows, which typically comes out on either the 8th or 9th business day of each month for the prior month's flows," Loren Fox
, senior research analyst at Strategic Insight, told the users of the FRC service.
On October 2, MFWire.com
broke the news that Asset International and FRC were "in conversations" with each other deal, according to Asset International senior vice president Jason Cassidy
[see MFWire.com, 10/2/2011
]. On October 10, MFWire.com
reported that FRC was restructuring and that, through working with the U.S. Bankruptcy Court for the District of Massachusetts, Strategic Insight would be snapping up most of FRC's business and many of its staff [see MFWire.com, 10/10/2011
]. Then this week Asset International and Strategic Insight confirmed the completion of the deal, which brought six FRC product lines into the family: 529 college savings, lifecycle, market sizing, monitor and sub-advisory [see MFWire.com, 11/28/2011
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