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Morningstar UK acquires Old Broad Street Research

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Morningstar UK has acquired Old Broad Street Research, a provider of fund research, ratings and investment consulting services in the UK, for GBP11.95m, subject to post-closing adjustments.

OBSR’s team of investment research analysts rates and recommends approximately 500 UK-domiciled and cross-border funds.

In addition, OBSR analyses a wide range of financial products and tax wrappers, including individual and group pension products, UK onshore and offshore investment bonds, individual and business protection products, and savings products.

"OBSR is one of the most renowned research and consulting firms in the UK, and is well-respected by advisers and institutions alike," says Don Phillips (pictured), president of fund research for Morningstar. "Our acquisition of OBSR strengthens our research capabilities in one of our key global markets by complementing our existing fund research team in London, and supports one of our growth strategies, which is to continue building our thought leadership in investment research."

OBSR managing directors Richard Downs, Richard Romer-Lee and Nigel Whittingham will continue to lead the business.

As a subsidiary of Morningstar, OBSR will continue to offer its fund rating and consultancy services with the benefit of access to Morningstar’s 290 researchers and analysts worldwide. The subsidiary will be called "OBSR, a Morningstar company."

"Morningstar is a good cultural fit for OBSR. Our research team is renowned in the industry for its quality and experience. Becoming part of a global company with greater resources will enable the team to continue to take the business forward," says Downs. "The investment and advice world is changing, particularly with the introduction of the Financial Services Authority’s Retail Distribution Review. As part of Morningstar, we will be able to leverage its core skills in research, design, technology, and data to develop a best-in-class solution that builds on our experience in this area."

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