Morningstar has acquired the business operations of InvestData of South Africa, a fund data provider, for undisclosed terms.

“Our acquisition of the InvestData business will increase our global managed funds database by adding South African and Namibian universes and give us greater presence in South Africa and neighboring countries,” said Denis Le Berche, managing director for Morningstar in South Africa.

“One of our growth strategies is to increase our brand and presence in global markets, and this acquisition allows us to develop the Morningstar brand in South Africa,” Le Berche added.

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