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Morningstar acquires provider of fund data.

Morningstar (Chicago, IL/London), a provider of investment research, has acquired Fundamental Data, Ltd. (London), a provider of data on closed-end funds in the United Kingdom, for 11 million [pounds sterling] (approximately $19 million), subject to post-closing adjustments.

Fundamental Data covers all U.K. and U.S.-domiciled closed-end funds as well as offshore and local closed-end funds worldwide. The company provides data on more than 1,500 closed-end funds and has more than 3,000 data points for each fund. Detailed information includes price, intraday net asset values, and distribution histories, as well as performance figures, risk statistics, earnings details, and analytics on the entire universe of funds.

The company's flagship product is FundWeb, an online subscription service that allows clients access to Fundamental Data's database. Funds are organized by domicile into modules. The company also provides data feeds, web site feeds, report outsourcing services including production of fund fact sheets, and an online database of publicly issued documents relating to closed-end funds.

Clients include major investment banks, stockbrokers, fund management groups, private client advisors, accountancy firms, wealth manager and related financial professionals. Morningstar UK ceo Geoff Balzano said "our goal is to continue to build a world-class investment database, and our acquisition ... positions us as a leading provider of global closed-end fund data."
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Publication:Business Publisher
Date:Oct 17, 2008
Words:215
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