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.
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