Morningstar, a Chicago-based independent investment insights company, has announced the rebrand of the CRSP Market Indexes to the Morningstar brand, marking a new milestone in its previously completed acquisition of the Center for Research in Security Prices from the University of Chicago. Name changes are expected to become effective in late July, with no disruption to clients or changes to existing index methodologies.
The CRSP Market Indexes underpin some of the most widely held index funds in the United States, including the Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund, with over $3 trillion in U.S. equities benchmarked across market capitalizations, investment styles, and sectors. Following the rebrand, the CRSP US Total Market Index will become the Morningstar US Total Market Index. With the addition of the former CRSP indexes, Morningstar now has over $4.2 trillion in assets linked to its benchmarks across more than 370 investment products, positioning it as the leading provider of broad U.S. equity benchmarks covering the entire market and a primary benchmark source for U.S. retirement plans.
The indexes were long favored by the late Vanguard founder Jack Bogle for their comprehensive total market coverage, and their unique methodology has been shown to help lower transaction costs for investors. Morningstar manages approximately $369 billion in assets under management and advisement through its investment advisory subsidiaries and operates through wholly-owned subsidiaries in 32 countries.
KEY QUOTES:
“The addition of CRSP has furthered our efforts to disrupt the costly, entrenched index industry with indexes that deliver more value at global scale to help benefit investors. We are proud to put our name on these highly respected benchmarks. We are excited to continue building on our collaboration with the team at Vanguard, who share our mission of providing efficient, low-cost, high-quality index-based investment strategies.”
Kunal Kapoor, CEO, Morningstar
“Now with over $4.2 trillion in assets linked to our benchmarks, including over 370 investment products, Morningstar offers an expansive alternative to legacy index providers. Adding the Morningstar brand to the CRSP indexes is another step in growing global visibility for this high-quality methodology.”
Amelia Furr, President, Morningstar Indexes
