MORNINGSTAR COMPLETES PURCHASE OF S&P FUND DATA UNIT
Financial information service and products provider Morningstar Inc. said that it has completed its previously announced acquisition of Standard & Poor's fund data business for $55 million in cash.
The S&P fund data business is comprised of data and products covering more than 135,000 managed investment vehicles, including mutual funds, exchange-traded funds, hedge funds and offshore funds. It also includes products such as Workstation, a fund performance and analysis system for asset managers; Data Feeds, data licensed by institutions; Mutual Fund Solutions, with customized and integrated Web components, search and screening tools, portfolio alerts, and fund fact sheets; and Mutual Fund Expert, a PC-based fund performance illustration tool for financial advisors. As part of the transaction, Standard & Poor's will license fund data from Morningstar.
SUNGARD UNVEILS RETIREMENT MODULE
Financial software provider SunGard has released Retirement Income Simulation Expert - a retirement income module that assists advisors in helping clients analyze their retirement income.
The product compares and illustrates income goal probabilities, the risk inherent in various planning scenarios, and the ways in which annuities affect the risk of those scenarios. The module is a component of SunGard's PlanningStation financial modeling and planning product, and its WealthStation wealth management technology platform.
