Morningstar buys S&PÆs funds data business
But just as one rival rating agency streamlines its Asia business, another, Trustnet, opens shop.
Morningstar has acquired the global funds data-collection business of Standard & PoorÆs, a rival funds rating agency, in a deal valued at around $55 million. Morningstar already covers 128,000 funds and will add S&PÆs data on 135,000 mutual funds from 30 jurisdictions.S&P will however continue to offer its funds rating platform. It will buy back fund data from Morningstar for use in its global ratings system. A spokesman at the firm says the parent company, McGraw Hill, wa…
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