Morningstar posts higher second quarter net

BOSTON, July 31 (Reuters) - U.S. research firm Morningstar Inc (MORN.O) posted higher second quarter net income on Thursday as turbulent markets boosted demand for its investments analytical tools, and it benefited from acquisitions.

Morningstar, best known for its star system of rating mutual fund performance, said second-quarter net income rose to $28 million, or 57 cents a share, from $18.3 million, or 38 cents a share, in the year-ago quarter. (Reporting by Muralikumar Anantharaman; editing by Carol Bishopric)