After last month's acquisition of Standard & Poor's
fund data unit, Morningstar is taking it easy, but the Chicago-based fund tracker is still in the acquisition game.
According to Morningstar CEO, Joe Mansueto, the firm is willing to consider any suitable acquisitions on the horizon, but there is no pressing need to do so. Since last year, the company has established fund databases in Taiwan and Singapore, adding to its existing databases in Asia and, with the acquisition of S&P's fund data unit last month, Morningstar has increased its visibility in the Pacific Rim and and South Africa.
As a result of its expansion, Morningstar's annual growth rate for its core business grew to 20% in 2006. Moreover, the firm is reportedly debt-free, making proposed expansion to Thailand, Indonesia and the Phillipines possible.
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