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December 2006
Release Notes |
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Recap of Previous
Announcements |
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Morningstar
News |
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Release Notes
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Enhanced Portfolio Statistics |
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As previously announced, effective March 31, 2007, Morningstar will provide portfolio statistics that incorporate the economic impact of short positions and derivatives. In response to client feedback, we recently decided to include swaps and options as part of the first phase of this project. The portfolio reporting template and methodology document have been updated to reflect the standards for all derivatives as well as display recommendations (e.g., when to show long or short or net). There will be small schema changes for Licensed Data Feeds in order to deliver both long and short statistics for funds. Please contact your relationship manager to receive the new schema and test files. In January, Morningstar will contact Data Feeds clients with information about Web-based interactive meetings to discuss the methodology and the required schema changes. |
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InvestorForce Database Integration is Complete |
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We've completed the integration of our hedge fund and separate account database following our acquisition of the database division of InvestorForce. We are pleased to note that ours is now one of the largest global hedge fund databases available today. Integration of the collective investment trusts is currently under way. |
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Expanded Index Coverage in Morningstar Direct |
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Morningstar Direct now provides current and historical performance data on 29 Stocks, Bonds, Bills and Inflation (SBBI) indices. Please click here for a complete list. Additionally, we've added more than 10,500 global indexes to the Morningstar Direct index database this month. Based on user requests, these indexes are from major providers covering global regions, significantly increasing our coverage of non-U.S. market based indices to ensure users have access to the most comprehensive set of available benchmarks. Please click here for a complete list. |
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Recap of Previous Announcements
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U.S. Quarterly Fund Category Review |
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Thank you to all who participated in the Q3 review. Category changes were effective with November month-end processing, and results were available on our Web sites on Dec. 5, 2006.The next review will be in February, and will include only funds with one year of history or less. |
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Undeclared Dividend Income Within Total Return Calculation |
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Effective Nov. 30, 2006, Morningstar made a minor change to they way we treat undistributed declared dividend income within total return calculations to better reflect actual performance. This change impacted approximately 5% of the total fund population, and in most cases, the difference between calculation methods did not exceed three basis points. Previously, Morningstar recognized income when it is distributed; now we will recognize income when it is declared. The change will affect funds that declare dividends daily and distribute them on a date other than the last business day of each month. Funds that distribute the sum of the daily accruals quarterly or on a frequency that is less than monthly will also be affected. |
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Net Asset Value (NAV) Returns Calculations on Closed-End Funds |
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Effective Jan. 31, Morningstar will adjust our methodology for NAV returns such that income distributions and capital gains will be reinvested at either the reinvest date market price or the reinvest date NAV, whichever is lower. This will better reflect actual performance. Currently, we reinvests dividends at the reinvest date net asset value, which may under-report NAV returns over long periods of time. |
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Amendments to NASD Rules on Mutual Fund Performance Sales Material |
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Morningstar has the data required to meet the requirements of the recent amendments to NASD Rules 2210-11. Please contact your relationship team for more information. Details on the amendments can be found here. |
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Morningstar News
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Save the Date—Ibbotson Asset Allocation Conference |
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Ibbotson is now a Morningstar company, and the Ibbotson Asset Allocation Conference will be held on March 8-9, in Miami, FL, at the Doral Golf Resort & Spa. Watch this space for more information about this annual event. |
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Morningstar at Industry Shows |
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Morningstar will exhibit at the Opal Financial Group Public Funds Summit in Scottsdale, AZ, Jan. 10-12, and Global Asset Allocation Summit in Santa Barbara, CA, Feb. 25-27; the GAIM USA 2007 conference in Boca Raton, FL, Jan. 22-24; the Defined Contribution East Coast Conference, Palm Beach Gardens, FL, Feb. 11-13; the National Association for Variable Annuities (NAVA) Marketing Conference in Tucson, AZ, Feb 25-28; and the American Society of Pension Professionals and Actuaries (ASPPA) 401(k) Sales Summit in San Diego, CA, Feb. 25-27. Morningstar will address the Norwegian Mutual Fund Association conference in Oslo, March 22. |
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Data Questions |
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Contact your account team or our data quality department:
U.S.
E-mail: dataquestions@morningstar.com
Phone: +1 312-696-6600
Fax: +1 312-696-6019
Mailing address:
Data Questions
Morningstar, Inc.
225 West Wacker Drive
Chicago, Illinois 60606
USA
Europe
E-mail: dataquestions.uk@morningstar.com
Phone: +44 20 3107 0070
Fax: +44 20 3107 0001
Mailing address:
Data Question
Morningstar Europe
1 Oliver's Yard,
55-71 City Road, London EC1Y 1HQ
United Kingdom |
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�2006 Morningstar. All rights reserved. |
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