Standard & Poor's of New York has created a new mutual fund division by merging three units. The units, Standard & Poor's Micropal, Standard & Poor's Fund Research and Standard & Poor's Managed Funds Ratings, will now be known as Standard & Poor's Fund Services. Sanford Bragg will become managing director of the new unit. The move is aimed at accelerating the company's global expansion, Bragg said.

The new Standard & Poor's Fund Services division has 300 employees in 13 countries. Bragg said no cutbacks are expected. The Select Fund Evaluation Service, which Standard & Poor's created in March to produce in-depth fund analysis targeted to intermediaries, will be sold through the fund division.

"The trend is that people want to go beyond performance information," Bragg said.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.