Frannie Besztery, head of data for Morningstar, said, "We're committed to enhancing our ability to analyze bond portfolios. Our asset management and advisor clients have been asking for more robust fixed-income capabilities, and InvestSoft's analytics will help us create a more complete view of mutual fund and exchange-traded fund portfolios, providing investors with better transparency into bond funds."
Todd Roitfarb, chief executive officer of InvestSoft, said, "InvestSoft understands the real-time needs of investment firms, and we pride ourselves on the speed and accuracy of our calculations and the seamlessness of our data processing. Now that we are part of Morningstar, we can reach and better serve more investors who need high-quality fixed-income analytics."
Morningstar will gradually integrate the firm's capabilities into its data processing systems and product functionality. The company will rebrand InvestSoft under the Morningstar name.
InvestSoft is based in Framingham, Massachusetts. Al Roitfarb founded InvestSoft in 1992 as Investment Technology. State Street, a client of the company, acquired the firm in 2001. In 2005, Investment Technology reacquired key software, and in 2011, Al Roitfarb and his son, Todd Roitfarb, formed InvestSoft after spending several years upgrading and redesigning the software. Todd Roitfarb has been CEO since joining InvestSoft in 2011. He previously held roles at Fidelity Investments, Merrill Lynch, and Ernst & Young.
Al Roitfarb will become head of architecture, fixed income, and Todd Roitfarb will become head of fixed-income products for Morningstar. The investment banking firm DGZ Associates, Inc. advised InvestSoft on the transaction.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on approximately 525,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on nearly 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement and management as of March 31, 2016. The company has operations in 27 countries.
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SOURCE Morningstar, Inc.