Risk profiling. They have it for stocks, they have it for derivatives, and now they have it for mutual funds. Lipper and Barra, Inc. have teamed up to create a risk profiling product for the mutual fund community, a spokesperson with Lipper told the MutualFundWire.com.

"This is a work in process," the spokesperson explained. For the two firms, this move is in many ways a meeting of the minds; Barra is bringing its risk management technology, and Lipper is bringing its knowledge of the mutual fund universe.

The firms have set their sites on the end of year as a completion date for the service. It is being designed for investment professionals and intermediaries. At this point, the distribution channels have not yet been worked out.

"There is a real need for a sophisticated risk profiling tool in the mutual fund industry, and we believe that Barra and Lipper together can provide it," the official contended. 

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