Morningstar announced Monday it had acquired the Stable Value Comparative Universe Data and Stable Value index from Hueler Cos. Terms were not disclosed.
"Stable value funds have long played an important role in helping retirement plan participants accumulate retirement savings and already account for 10% of assets in defined contribution plans," said Joscelyn MacKay, director of data products for the Americas at Morningstar, in a news release.
"It's gratifying to see these products we've developed with strong industry support over the past 30 years move into the capable hands of the Morningstar team," said Kelli Hueler, founder of the eponymous firm, in the news release. Ms. Hueler and Kathleen Schillo, managing director of operations at Hueler, will consult with Morningstar to support the transition of the index.
Hueler Cos.' other business, the Income Solutions Annuity Platform, was not affected by the Morningstar transaction. Hueler offers this service to defined contribution plans to identify and compare annuity products.
