AXA Investment Managers Leverages State Street PriceStats Inflation Series & MKT MediaStats’ Big Data Analytics to Sharpen ...
April 05 2016 - 12:45PM
Business Wire
Big Data-Driven Tools Digest Large Volumes of Information to
Interpret Market Signals
AXA Investment Managers (AXA IM) today announced a collaboration
with State Street and MKT MediaStats to evaluate data-driven
indicators that help analyse economic and market information.
MKT MediaStats is focused on financial market implications of
increasingly available ‘big data’ from multiple sources, and is
founded and led by well-known academic researchers. It leverages
and extends into the commercial realm of considerable academic
research done by its partners. The State Street PriceStats
inflation series is a daily measure of inflation derived from
prices posted to public websites by hundreds of online
retailers.
“AXA IM, MKT MediaStats and State Street share a commitment to
exploring new data sources that can enhance our ability to make
timely and well-informed investment decisions,” said Joseph Pinto,
chief operating officer at AXA Investment Managers. “Leveraging
these big-data solutions will allow us to advance our client
service on multiple fronts. Not only are we increasing the amount
of knowledge available to us, but we are also cutting down on the
amount of time spent manually sorting through information
resources. We are excited about the opportunities offered by big
data and our collaboration with State Street and MKT MediaStats are
two efforts in a series of initiatives we are exploring at AXA IM
aimed at exploiting data for the benefit of our clients.”
“The digital age has vastly expanded the data sources available
to investors, so much so that it has become imperative to consume
and analyse information quickly and accurately,” said Jessica
Donohue, chief innovation officer for State Street Global Exchange.
“Investor success in the coming years will continue to largely
depend on the ability to rapidly access and synthesise an
exponential amount of information. Our goal is to bridge the gap
between financial decision making and academic thinking to help
investors achieve their return and risk objectives.”
MKT MediaStats was founded by Gideon Ozik, affiliate professor
at Ecole des Hautes Etudes Commerciales du Nord (EDHEC) Business
School and former hedge fund manager at Société Générale; Professor
Ronnie Sadka, chair of the Finance Department at Boston College’s
Carroll School of Management; Ken Froot, professor at Harvard
Business School and founding partner of FDO Partners; and Hadar
Shezifi, technology entrepreneur and former architect at Neustar.
MKT uses unstructured data from many sources, including 25,000
distinct media sources, to derive a wide variety of indications of
market behavior, such as sentiment, price movements, risk, and
liquidity of individual assets.
The State Street PriceStats inflation indices are generated
using software that scans the underlying code on public websites to
capture the full array of products sold by online retailers,
including food, beverages, electronics, apparel, furniture,
household products, prescription drugs, and over-the-counter
medicines. The technology monitors price fluctuations on roughly
five million items sold by hundreds of online retailers in more
than 70 countries. The PriceStats methodology is grounded in the
extensive body of research of MIT professors Alberto Cavallo and
Roberto Rigobon and their Billion Prices Project at MIT. Cavallo
and Rigobon have leveraged this research and their expertise in
monetary economics to develop the PriceStats indices.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors,
including investment servicing, investment management and
investment research and trading. With $28 trillion in assets under
custody and administration and $2 trillion* in assets under
management as of December 31, 2015, State Street operates in more
than 100 geographic markets worldwide, including the US, Canada,
Europe, the Middle East and Asia. For more information, visit State
Street’s website at www.statestreet.com.
* Assets under management include approximately $22 billion as
of December 31, 2015, for which State Street Global Markets, LLC,
an affiliate of SSGA, serves as the distribution agent.
About AXA Investment Managers
AXA Investment Managers is an active, long-term, global,
multi-asset investor focused on enabling more people to harness the
power of investing to meeting their financial goals. By combining
investment insight and innovation with robust risk management, we
have become one of the largest asset managers in Europe with
ambitions to become the chosen investment partner of investors
around the world.
With approximately €669bn in assets under management as of end
September 2015, AXA IM employs over 2,300 people around the world
and operates out of 28 offices in 21 countries. AXA IM is part of
the AXA Group, a global leader in financial protection and wealth
management.
For more information, visit our website: www.axa-im.com
© 2016 State Street Corporation - All Rights Reserved
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State Street CorporationJulie Kane,
1-617-664-3001jekane@statestreet.com@StateStreet
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