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December 2007
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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Licensed Data Release Schedule: Data Feeds and
Morningstar� Essentials |
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Licensed Data Release Schedule |
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Morningstar Future Distributions Data License |
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Morningstar is pleased to introduce the Future Distributions Data License just in time for the 2007 year-end distributions. This data license provides firms with the upcoming distribution dates and amounts that have been confirmed by nearly all U.S. fund families. This data is delivered daily via Morningstar OnDemand, so firms can be certain that they have the most up-to-date dividend and capital gains estimates.
The Morningstar Future Distributions Data License helps investors, advisors, and money managers manage taxable events. By knowing in advance when and how much of a distribution will be paid, managers and advisors can prevent accounts from having to pay taxes on unwanted capital gains and dividends. The Morningstar Future Distributions Data License also allows firms to save time and money by outsourcing the data collection and quality control process. Please contact your Morningstar representative for more information. |
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Enhanced (Survivorship Bias Free) Category Averages for U.S. and Europe Funds |
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As previously announced, we have enhanced our methodology for calculating Morningstar Category returns to address the problems associated with survivorship bias- which is the tendency for performance results to skew higher as less successful funds are merged or liquidated away and are not included in the calculations. While a number of academic and research databases have been using Morningstar data to calculate U.S. survivorship bias-free fund category returns, we are pleased to be able to provide this global data directly.
Enhanced category averages now include all funds that were in the category during the return period, including partial contributions from funds that have changed categoriesnot just those that were in that category at end of the period. This additional return data applies to U.S. and Europe open-end, closed-end and exchange-traded funds, variable annuity funds, money market funds, hedge funds and separate accounts. We have replaced our calendar category returns with this enhanced data, however, both simple and enhanced trailing category returns are also available.
These data points are currently available to Licensed Data clients. Morningstar Direct(SM) clients should check the Announcements area for implementation details and timing. Please contact your account team for details.
Morningstar Calendar Category Averages Methodology Document
Morningstar Trailing Category Averages Methodology Document |
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U.S. Year-End Production Schedule |
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Morningstar will be using the following schedule for year-end. Please refer to your license agreement, product help section, or account team to determine when 2007 year-end data will be available in your subscription. |
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| Business Day |
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Date |
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Description |
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| Business Day 1 |
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Wednesday, Jan. 2 |
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Morningstar Production |
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| Business Day 2 |
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Thursday, Jan. 3 |
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Morningstar Production |
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| Business Day 3 |
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Friday, Jan. 4 |
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Year-end data available in Direct |
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| Business Day 4 |
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Monday, Jan. 7 |
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Licensed Data packages begin delivery |
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Recap of Previous Announcements |
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New Email Address for Licensed Data |
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The Morningstar Licensed Data team will now be sending important data feed announcements from the new email address LicensedData@morningstar.com. Please add LicensedData@morningstar.com to your Address Book to avoid spam filters. |
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Variable Annuity Underlying Fund Morningstar Rating Change |
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Morningstar is changing our ratings for variable annuity underlying funds to compare with open-end mutual funds, effective Jan 31, 2008. In order to support this enhancement, the following changes will occur: Open-end funds that can be used in variable annuity subaccounts will be designated available to insurance products and any duplicate funds in the VA universe will be removed. These designated funds will be included in both the U.S. VA and U.S. open-end universes. Category averages for both U.S. VA underlying and U.S. open-end will include these funds. Please contact your account team for details. |
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Revised Morningstar Category Classification for Hedge Funds |
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Morningstar has revised our methodology for hedge fund categories. Previously, category assignments were based on a review of the hedge funds memorandum document, manager-provided investment strategy descriptions and supporting data, and conversations with portfolio managers. Going forward, our hedge fund analyst staff will adjust the assignment process to include cluster analysis and portfolio statistics acquired via surveys as additional factors to determine the appropriate category assignment. Morningstar supports 17 hedge fund categories, which map into five broad category groupings (Equity, Arbitrage, Global, Event, and Multi-Strategy).
Hedge Fund Category Methodology Document |
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Morningstar News |
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Sharon Murphy joins Morningstars Data Business Unit as Chief Quality Officer |
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Sharon Murphy joined Morningstars Data business unit as its Chief Quality Officer replacing John Rong, who is now running database operations. A certified Master Black Belt in Six Sigma, Sharon spent the last 16 years working at General Electric, most recently GE Healthcare Financial Services. In addition to working for the Healthcare Financial Services organization, she has worked in a diverse group of GE's businesses including GE Plastics, GE Medical Systems, GE Capital Railcar Services, and GE Supply. She has an M.B.A. from Kellogg and a B.S. in Finance from Indiana University. |
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Save the Date2008 Ibbotson� Asset Allocation Conference |
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The annual Ibbotson Asset Allocation Conference will be held March 13-14, 2008, in Orlando, Florida. Watch this space for more information. |
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Morningstar at Industry Shows |
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| Morningstar will exhibit at the following conferences. We hope to see you there. |
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Global Alternative Investment Management (GAIM) USA Jan. 22-24 Boca Raton, FL |
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American Society for Professional Pension Actuaries (ASPPA) 401(k) Sales Summit Feb. 10-12 Orlando, FL |
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Fourth Annual Conference on Managing Retirement Income Feb. 11-13 Miami, FL |
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National Investment Company Service Association (NICSA) 26th Annual Conference and Expo Feb. 17-20 Miami, FL |
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National Association of Variable Annuities (NAVA) Marketing Conference Feb. 24-27 LaQuinta, CA |
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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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This e-mail contains privileged and confidential information and is intended only for the use of the recipient. Any dissemination, distribution, or duplication of this communication without prior written consent from Morningstar is strictly prohibited. If you received this message in error please contact the sender immediately and delete the materials from any computer. You are receiving this e-mail because you are a Morningstar Data client, or because you asked that your name be added to the distribution list. If you wish to remove yourself from our institutional client communication list, please hit reply with "unsubscribe" in the subject line. If you would like to opt-in to this e-mail list please hit reply and include your full name, title, company name and address. We will be happy to add you to the list. The newsletter is free, and we never release these e-mail addresses to third parties. If you change your mind and no longer wish to receive this e-mail, we will quickly remove your name from the distribution list. |
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