Fundamental Data covers all UK- and U.S.-domiciled closed-end funds as well as offshore and local closed-end funds worldwide. Clients include major investment banks, stockbrokers, fund management groups, private client advisers, accountancy firms, wealth managers, and other professionals. Fundamental Data is the official data provider to the Association of Investment Companies (AIC), a UK-based trade association for closed-end funds.

"Our goal is to continue to build a world-class investment database, and our acquisition of Fundamental Data positions us as a leading provider of global closed-end fund data. The addition of this data also strengthens all of our offerings for individuals, advisers, and institutions, particularly in the UK," said Geoff Balzano, chief executive officer of Morningstar UK Ltd. "Fundamental Data has a great reputation and a tremendous amount of experience specializing in closed-end fund data and information."

Fundamental Data currently provides data on more than 1,500 closed-end funds and has more than 3,000 data points for each fund. Detailed fund information includes price, intraday net asset values, and distribution histories, as well as performance figures, risk statistics, earnings details, and comprehensive analytics on the entire universe of funds.

The company's flagship product is FundWeb, an online subscription service allowing clients access to the company's comprehensive database. Funds are organized by domicile into modules. Fundamental Data also provides data feeds, Web site feeds, and report outsourcing services including production of fund fact sheets. It also offers an online database of publicly issued documents relating to closed-end funds.

Fundamental Data has been privately owned since 1996 and employs approximately 30 people in London.

Morningstar anticipates that, over time, the Fundamental Data name will be rebranded under Morningstar.