Foster City, Calif., September 25, 2006 - FirstRain, a premium research service providing targeted and relevant information to fuel clients' insights, today announced that Pioneer Investments will expand its use of the service to enable its investment management team to gain insights into market ecosystems.
"FirstRain provides an important tool which will enable us to find rich information about a company, its supply chain, demand chain and its competitors—the entire ecosystem surrounding the company," said Andrew Acheson, portfolio manager at Pioneer, a subsidiary of UniCredito spa.
Pioneer began working with FirstRain in 2005, and has now agreed to expand use of the service to cover multiple funds, including funds with value and growth strategies and with concentrations in large-cap, mid-cap and small-cap stocks.
Based on patented search technology and an innovative ecosystem approach, FirstRain provides institutional money managers with exclusive and valuable market information. FirstRain's expert research team works with institutional money managers to build a highly customized ecosystem model specific to their needs and extracts targeted digital information from more than 12,000 authoritative sources, including blogs, regional publications and global resources.
"Pioneer is one of the top money managers, and I am very pleased to expand our engagement with this leading firm," said Penny Herscher, president and CEO of FirstRain. "Pioneer is a prime example of how a buy-side firm can gain an advantage from differentiated qualitative intelligence on their portfolio companies."
FirstRain is a premium research service that fuels clients' insights by providing targeted and relevant information on companies and trends, each in their own unique market context. This highly relevant and timely information from across the web-including hard-to-find sources such as sector-specific sources, premium subscription sites, influential blogs and local and international news-enables FirstRain clients to make better business decisions more quickly, using fewer resources. FirstRain is a privately held company headquartered in Foster City, Calif., with additional offices in New York, NY, Boston, Mass., and Gurgaon and Mumbai, India. Contact FirstRain at www.firstrain.com.
Pioneer Investments is a global asset management firm with offices in 18 countries and approximately $312 billion in assets under management as of July 31, 2006, of which approximately $67 billion was managed in the U.S. Founded in 1928, our flagship mutual fund, Pioneer Fund, is the third-oldest mutual fund in the U.S. "Pioneer Investments" is the trade name for Pioneer Global Asset Management S.p.A. and its subsidiaries. Pioneer Investment Management USA Inc. is the North American operating subsidiary of Pioneer Global Asset Management S.p.A., which is a wholly-owned subsidiary of UniCredito Italiano S.p.A. As a result of the merger of UniCredito and Bayerische Hypo und- Vereinsbank A.G. (HVB), HVB's asset management divisions are being integrated with Pioneer Investments. This integration will bring total assets at Pioneer Investments to over $300 billion.
Ogilvy Public Relations