S&P/Morningstar transaction complete
Standard & Poor’s (S&P) has completed the sale of its mutual fund data business to Morningstar and will now license the data back for use in its research and ratings services.
The transaction includes performance, rankings and holdings data on more than 135,000 funds in more than 30 countries, as well as desktop applications and data feed products.
S&P made the decision to sell this portion of the company in order to focus on its core analytical services revolving around the global funds industry.
The offloading will allow S&P to expand its independent fund ratings and research business, as well as its investment consulting services, including asset allocation, portfolio construction and manager selection.
Recommended for you
With HNW investors representing the largest market for alternative assets, Praemium and CoreData research underscores why this presents a compelling opportunity for advisers.
Having completed the successful integration of Diverger, Count has upgraded its forecast for expected synergy benefits achieved by the acquisition by a third.
Australia’s largest licensee has seen the biggest number of adviser losses over the past week, while the expected wave of new entrants has boosted overall adviser numbers.
Iress has increased its forecast adjusted EBITDA by $5 million for the 2023/24 financial year in light of the sale of its platform business to Praemium and hinted at a return to dividend payments.