Morningstar Moves into Norway
October 9, 2000
Morningstar of Chicago last week announced the formation of Morningstar Norge, a joint venture between Morningstar Europe and Finansbanken, a wholly-owned subsidiary of Storebrand of Norway. The joint venture will provide daily mutual fund information to newspapers and financial portals in Norway. Eventually, the company will create a website that will provide fund information and analysis to retail Norwegian investors, the company said.
Norway is a good place for Morningstar to offer its research and analysis because independent fund information is scarce in Norway, according to Geir Anderson, CEO of Finansbanken.
Storebrand is Norway's largest insur-ance and asset-management company. Morningstar hopes the partnership with Storebrand's subsidiary will give it credibility in Norway, the company said.