Moving away from FactSet for Financials

As many of you know, we currently use FactSet for scrubbed financials. The reason we moved to FactSet is that it was aimed at being a better version of Compustat (the hedge fund financials dataset from S&P). In all honesty, we have been disappointed with them for numerous reasons, including the following:

• Delays: FactSet scrubbed data comes in with a two business day lag, meaning data reported on Friday may not hit until the following Wednesday morning.
• Weak data: missing segments and KPIs, inaccurate estimates, and more.

For this reason, we have found a new method and are migrating to a dataset that will bring data in under 90 minutes after reporting. This provider has a smaller name than FactSet but is currently trusted by some of the largest institutional firms. We aim to finish this migration before Sunday, May 3rd. Until the migration is done, financials from FactSet may become unreliable.