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June 2008
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 Direct 3.4 Is Here |
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We released the newest version of Morningstar Direct - Version 3.4 on May 15. This latest version introduces new functionality, enhanced usability and additional data and coverage. Research obsolete securities that have merged or liquidated. Streamline your workflow and improve the usability of your regular and ad hoc reports with the new Performance Reporting capability. Experience enhanced performance for faster opening of fund universes, running searches, and generating Aggregates/Custom Fund reports - additional improvement will be included in future releases. Click here to a view more highlights in Morningstar Direct 3.4. |
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Morningstar Solution for New Variable Annuity Rule (FINRA Rule 2821) |
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In order to help our clients implement the conditions of the Variable Annuity Rule (aka FINRA Rule 2821), Morningstar has developed a suite of data feeds designed to streamline the process of reviewing suitability of annuity transactions. Morningstar maintains best- in- breed coverage of Variable Annuities, tracking nearly 1,500 contracts and more than 70,000 subaccounts, including more than 700 closed and previously sold versions of contracts. The depth and breadth of the Morningstar Variable Annuity database is uniquely suited to helping our clients analyze and document variable annuity exchanges, a key focus area of Rule 2821. Our data feeds track death and living benefit types, fees, and election and age limitations; contract purchase requirements; withdrawal and transfer restrictions; mortality and expense, administrative, and distribution fees; and many other contract and subaccount level data points. Data is posted to Morningstar's FTP site monthly or daily on demand in an easy to read XML format. |
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New Morningstar Global Bond Indexes |
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The Morningstar Index team has introduced a new series of global bond indexes. This series of 11 indexes offers a useful set of benchmarks covering both developed and emerging bond markets. The former include indexes covering sovereign bond debt issued in seven non-U.S. currencies. The latter are represented by a composite index that breaks down into benchmarks of emerging markets sovereign and emerging markets corporate bond debt, all originally issued in U.S. dollars. Index data are available denominated in both price return and total return. Indexes focusing on the local-currency bonds of developed markets are also available reflecting local market returns that have been hedged in U.S. dollars, and local market returns reflecting currency conversion to U.S. dollars with no hedging; all are included in Morningstar products. For more information, please visit http://indexes.morningstar.com or contact Morningstar Indexes at indexes@morningstar.com or 312-384-3735. |
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Morningstar Data Warehouse Feed Enhancements |
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The Morningstar Licensed Data team is excited to announce an enhanced Data Warehouse 3.3 data feed. The enhancements include numerous hedge fund data point additions, additional ETF indicators, standardized VA subaccounts returns to meet compliance requirements, super muni sector data points, statement of additional information, and additional international data points. DataWarehouse 3.3 is currently available for testing and will go live in September with August ending data.
Please contact your Relationship Manager for more information. |
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New Categories Global Real Estate and Currency, effective July 31, 2008 |
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For July month-end we will be introducing two new Morningstar Categories, Global Real Estate and Currency. These new categories will be available for all universes with the exception of hedge funds. This change only applies to portfolios domiciled in the United States. Licensed Data test files will be available in May. |
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Global Real Estate (GR) |
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Global real estate portfolios invest primarily in non-U.S. real estate securities, but may also invest in U.S. real estate securities. These portfolios purchase debt and equity securities, convertible securities, and securities issued by Real Estate Investment Trusts (REITs) and REIT-like entities. Portfolios in this category also invest in real estate operating companies. |
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Currency (code: CR) |
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Currency portfolios invest in U.S. and foreign currencies through the use of short- term money market instruments; derivative instruments, including and not limited to, forward currency contracts, index swaps and options, and cash deposits. |
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New Broad Asset Class, effective July 31, 2008 |
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For July month-end we will be introducing a new broad asset class called "Alternative" and the primary index assigned to it is the ML USD LIBOR 3 Mon CM. This new broad asset class will contain the following five categories:
Currency
Long-Short
Bear Market
Precious Metals
Market Neutral |
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Revisions to Secondary Benchmarks for Morningstar Categories, effective July 31, 2008 |
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Effective July 31, 2008, we will make some revisions to the secondary benchmark for the following Morningstar categories:
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| Morningstar Category |
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Old Secondary Index |
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New Secondary Index |
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| Foreign Large Value, FV |
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MSCI World Ex US NR USD |
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MSCI EAFE Value NR USD |
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| Foreign Large Blend, FB |
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MSCI World Ex US NR USD |
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MSCI AC World Ex USA NR USD |
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| Foreign Large Growth, FG |
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MSCI World Ex US NR USD |
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MSCI EAFE Growth NR USD |
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| Pacific/Asia ex-Japan Stk, PJ |
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MSCI AC Far East Ex Japan USD |
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MSCI AC Far East Ex Japan NR USD |
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| High Yield Bond, HY |
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Credit Suisse HY |
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ML US HY Master II |
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| Long-Short, LO |
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Russell 3000 |
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S&P 500 TR |
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| Bear Market, BM |
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Russell 3000 |
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S&P 500 TR |
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Obsolete Category - Muni Florida, effective July 31, 2008 |
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Effective, July 31, 2008, the Muni Florida category will be closed and all Muni Florida funds in that category will be moved to one of the Muni Single State categories (Long, Intermediate or Short). Placement in either the Long, Intermediate or Short category will be based on a three-year average of duration and maturity statistics. |
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Recap of Previous Announcements
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U.S. Open End and Variable Annuity Category Review Period |
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All Open End funds and Variable Annuity underlying funds category assignments will be reviewed starting May 20, with the appeals period concluding on May 27. Applicable category changes will be effective with May month-end data, and results will be available in all of our products in June. |
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New Primary Benchmarks for Hedge Funds, effective July 31, 2008 |
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Effective July 31, 2008, we will assign a primary benchmark to each hedge fund category. This primary benchmark, based on category, will then be used to calculate more accurate MPT statistics as well as other statistics that require a defined benchmark. |
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Introducing Training Webcasts for Morningstar Directs |
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We're pleased to announce a new series of training Webcasts for Morningstar Direct 3.3 users, located in the Training Schedule under the Home tab on Morningstar Direct. These Webcast series provide introductory- to advanced-level training sessions designed to help users maximize the platform's capabilities and gain insight into Morningstar methodologies and data universes. The Webcast trainings are organized as follows:
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New user, an introduction to Morningstar Direct |
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Morningstar Direct 3.4 Enhancements, including performance reporting |
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Data Universes, including U.S. Stocks, Hedge Funds, Separate Accounts/Collective Investment Trusts, Variable Insurance, ETFs and Closed-End Funds |
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Client-focused for user roles including Portfolio and Fund of Fund Management, Marketing and Sales, Product Management and Development, Consultants and Plan Sponsors |
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Methodology, including Morningstar Rating and Style Box, Data point FAQ, Newer Morningstar Methodologies |
Please contact your Morningstar Direct team for more information. |
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Morningstar EnCorr 9.4 Release Now Available |
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Morningstar EnCorr 9.4 has been released. As always, please follow the protocol outlined by your IT department regarding downloads. The new release includes risk budgeting functionality, forecasting using log-stable returns distribution assumption, enhanced resampling, and expanded operational data among many other features and enhancements.
Please click here for a complete list of the new features in Morningstar EnCorr 9.4. |
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Collective Investment Trusts-New Information |
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As Collective Investment Trusts (CITs) continue to gain acceptance with defined contribution plans, we are also expanding our CIT database and information display in all of our applications:
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Multiple share classes: The Depository Trust & Clearing Corporation is handling an increased amount of collective fund transactions for plan participants, sponsors, and providers and Morningstar is now collecting and displaying different share classes of CITs, mainly differentiated by different fee levels. |
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CUSIPs: An increasing number of CITs, but not all, are now obtaining CUSIPs, the nine-character alphanumeric security identifiers for North American securities from the Committee on Uniform Security Identification Procedures. We've added the CUSIP identifier to our database, increasing Morningstar's ability to quickly and easily track CITs. |
The response has been positive to these enhancements. Specific inquiries on these increased capabilities or requests to add CITs to Morningstar's database can be sent to DataCITTeam@morningstar.com |
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Morningstar News
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Morningstar Announces Keynote Speakers, Agenda for 20th Annual Investment Conference |
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May 8, 2008-Morningstar will host its 20th annual investment conference for financial advisors Wednesday, June 25 through Friday, June 27, at McCormick Place Convention Center (West Building) in Chicago. Last year, about 1,400 industry leaders, financial advisors, and money managers attended the gathering.
Press Release |
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Morningstar, Inc. Reports First-Quarter 2008 Financial Results |
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May 1, 2008--Morningstar announced its first-quarter 2008 financial results. The company reported consolidated revenue of $125.4 million in the first quarter of 2008, a 31.4% increase from revenue of $95.4 million in the first quarter of 2007. Morningstar's first-quarter results included $11.1 million in revenue from acquisitions made during 2008 and 2007. Consolidated operating income was $34.7 million in the first quarter of 2008, an increase of 44.4% compared with $24.0 million in the first quarter of 2007. Morningstar's net income was $23.1 million in the first quarter of 2008, or 47 cents per diluted share, compared with $15.8 million, or 33 cents per diluted share, in the first quarter of 2007.
Press Release |
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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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7th Annual Canada Cup of Investment Management June 5-6 Toronto, ON, Canada |
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National Investor Relations Institute (NIRI) Annual Conference June 8-11 San Diego, CA |
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Morningstar Investment Conference, June 25-27 at McCormick Place in Chicago. |
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2008 International Fund Forum June 30 - July 4 Barcelona, Spain |
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Data Questions |
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Contact your account team or our data quality department:
North America
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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�2008 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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