Morningstar Completes CRSP Acquisition, Expands Vanguard Relationship
Morningstar, Inc. revealed it has completed its previously announced acquisition of the Center for Research in Security Prices (CRSP), a provider of historical stock market data and indexes from the University of Chicago, for $365 million, subject to customary adjustments.
The acquisition of CRSP brings the CRSP Market Indexes, benchmarks for over $3 trillion in U.S. equities spanning market capitalizations, investment styles, and sectors, into the Morningstar Indexes division.
The CRSP indexes will be rebranded under the Morningstar name.
Morningstar also announced its agreement with Vanguard that confirms the continued use of CRSP indexes to underpin a range of Vanguard funds, including the Vanguard Total Stock Market Index Fund (VTSAX and VTI), and Vanguard Mid-Cap Index Fund (VIMAX and VO).
“The addition of CRSP furthers our efforts to disrupt the costly, entrenched index industry with indexes that deliver more value at global scale to benefit investors. With over $4.2 trillion in assets linked, including over 370 investment products, Morningstar offers a better alternative to legacy index providers,” said Amelia Furr, president of Morningstar Indexes. “By working together with Vanguard, Morningstar Indexes will continue to serve as the foundation for some of the world’s largest funds and advance low-cost investing for millions of investors.”
“For nearly 50 years, Vanguard has been at the forefront of index investing,” said Rodney Comegys, CIO of Vanguard Capital Management and head of global equity at Vanguard. “Our agreement with Morningstar reinforces our steadfast commitment to delivering low costs, broad diversification and strong performance for investors. The academically rigorous methodology of the CRSP indexes provides a world-class foundation for long-term success, empowering clients to pursue their investment goals with confidence.”