Morningstar UK has acquired Old Broad Street Research Ltd. (OBSR), a premier provider of fund research, ratings, and investment consulting services in the United Kingdom, for 11.95 million pounds sterling, or approximately U.S. $18.3 million, 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 United Kingdom, and is wellrespected by advisers and institutions alike,” said Don Phillips, 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.”