Examining the Market for Fund Data and Research


This report provides an examination of the market for fund data and research.

The term “fund data and research” is broad, but for the purposes of this report, Opimas focuses on data about funds, which we break into five broad segments:

  1. Research & comparison
  2. Ratings & awards
  3. NAV feeds
  4. Portfolio holdings
  5. Fund flows

As part of this study, Opimas summarizes the different users of fund data and research, including asset managers, traders, investors, and data re-distributors.

Additionally, we provide a detailed overview and comparison of the various vendors (who are pictured in Figure 1).

Next, Opimas examines the revenues earned from selling fund data and research. Overall, Opimas estimates that vendors earned over US$1.9 billion in 2023 from selling fund data and research, up from $1.7 billion in 2021. Revenues are growing steadily at a five-year CAGR of 14%, though much of this growth is attributable to the sale of alternative investment fund data. However, vendors appear to struggle with profitability, which has followed a downward trend.

In later sections, we discuss other challenges faced by providers of fund data and research, and finally, we peer into the future of the fund data and research business.


Figure 1. Fund Data & Research Landscape



© OPIMAS, 2024. All Rights Reserved.