BCI invests in U.K. investment-analytics software company

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Copyright : Irina Belokrylova // 123RFThe British Columbia Investment Management Corp. is buying a stake in U.K.-based investment analytics provider ClearMacro Ltd.

The company provides analytics tools designed for asset managers and other professional investors.

“BCI has in recent years firmly established our in-house investing capabilities across asset classes,” said Mihail Garchev, vice-president of total fund management at the BCI, in a press release. “However, we also constantly benchmark ourselves and seek to improve. To that end, we have decided to materially drive forward our abilities to import best-in-class data strategies and tools to support investment decision-making and risk management processes. After extensive research, we are excited to become a strategic investor in ClearMacro and look forward to supporting the company in addressing the significant opportunity in the marketplace.”

The financial terms of the transaction were not disclosed, but management and staff of ClearMacro will maintain majority ownership, while a representative from the BCI will sit on the company’s board.

“CM’s mission is to level the playing field in data analytics for professional investors,” said Mike Simcock, ClearMacro’s chief executive officer. “We are committed to providing institutional investors and asset managers access to the powerful methodologies and tools employed in systematic quant investing. Investment firms need a short cut to developing future-proofed data strategies, especially given the rapidly changing underlying macro environment, the shifting relevance of various data sets, as well as the accelerating developments in technology.”

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