Morningstar acquires fund data from S&P

The American financial information provider Morningstar acquires the fund data business from rating agency Standard & Poor's (S&P) at the price of $55 million. With this new data offering, which covers 135 000 investement funds from 30 countries, Morningstar plans to extend its presence outside the US and particularly in Europe. Morningstar currently owns data for 128 000 funds and expects to offer - subsequent to the consolidation - the world's biggest data base for investment funds, ETFs, institutional funds and hedge funds. According to a S&P spokesperson the rating agency estimates that their growth potential looks more promising in fund research and fund rating than in data bussiness.

Source: Neue Z├╝rcher Zeitung





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