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Morningstar Completes Acquisition of S&P’s Fund Data Unit

At 01 Mar 2007 11:24:53 in RDR-News in Brief, RDR-Ratings, RDR-Reference Data Vendors, Reference Data Review    Print Article  Email Article   Full content requires subscription 

Morningstar, a provider of independent investment research, has completed its acquisition of Standard & Poor’s fund data business, a division of The McGraw-Hill Companies, for $55 million in cash, subject to post-closing adjustments. Standard & Poor’s says it has decided to focus its resources on developing its fund ratings business, in which it forecasts future performance on some 2200 funds globally. Access to fund data to support its fund ratings business will be licensed back from Morningstar as part of the arrangement.

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