Morningstar, Inc. and Standard and Poor’s, a division of The McGraw-Hill Companies, announced March 16 the completion of a deal for Morningstar to acquire Standard and Poor’s mutual fund data business for $55 million in cash. S&P’s fund data business consists of data and products covering more than 135,000 managed investment vehicles, Standard and Poor’s will license fund data from Morningstar after the acquisition is completed. The acquisition will give Morningstar significant new opportunities in Europe and Asia, where S&P’s mutual fund data business is particularly strong.
The development comes after a second review of antitrust concerns by the Department of Justice.
The firm also sees job cuts putting HSA business up for grabs.
Although term life was hot, traditional fixed universal life was not.
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