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Independent investment research company Morningstar has announced its acquisition of Fundamental Data Ltd, for £11m.

Morningstar, which also acquired the fund data business of Standard & Poor's last year, provides data on more than 280,000 investment offerings, including mutual funds, ETFs, insurance and pension funds, separate accounts and hedge funds.

It has more than 185 analysts in 18 countries around the world and provides quantitative star ratings on more than 25,000 mutual fund portfolios and ETFs globally.

Fundamental Data is the official data provider to the Association of Investment Companies. It provides data on more than 1500 closed end funds and has more than 3000 data points for each fund.

As well as its online subscription service, FundWeb, which allows clients access to the company's database, Fundamental Data also provides data feeds, website feeds and report outsourcing services, including production of fund fact sheets.

Geoff Balzano, chief executive of Morningstar UK, said: "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 in the UK." said

Fundamental Data has been privately owned since 1996 and employs 30 people. Morningstar said Fundamental Data will be rebranded as Morningstar in due course.