AXA Investment Managers has signed up to use a State Street-owned data tool and technology founded by a former hedge fund manager at Société Générale.

The UK-based fund house said on Monday it will leverage State Street’s PriceStats to monitor price fluctuations on millions of items sold by online retailers.

It will also use MKT MediaStats - run by ex SocGen exec Gideon Ozik - which gathers data from multiple media sources and derives indications of market behavior, including sentiment, price movements, risk and liquidity of assets.

“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," he added.

Jessica Donohue, chief innovation officer for State Street Global Exchange, said that 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.”