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August 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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Coming Soon to Morningstar Direct 3.5 |
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We�re pleased to announce that Morningstar DirectSM 3.5 is scheduled for release in the third-quarter of 2008. This latest version will introduce enhanced usability, additional functionality, new data, and coverage. Following are just a few highlights in the upcoming release:
• Added flexibility to build a customized Home page
• Favorites functionality to quickly launch saved files and charts
• Organize Investment Lists using new action buttons to move securities in list
• Right-click on column headings to view Data Definitions and edit
Data Settings
• Enable Add To and Save As options in holdings view to include constituents
to Investment Lists, Aggregates, or Performance Reports
• Find Data Points by Views and Name containing
• New Training Schedule interface to easily register and attend trainings
• Schedule and run batch Performance Reports that can be saved to
network directories
• Write and share notes on investments at manager, fund family, or share
class levels
• Intraday price monitor for stocks, ETFs, and market indices
• Expanded international stock coverage
• View security short positions
• Additional data definitions
•What distribution channels are fixed-income assets flowing into?
•Which Categories attracted the most assets last month?
•Has my biggest competitor�s market share increased over the past year? |
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Introducing Morningstar Plug-In for Microsoft Excel |
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Morningstar is inviting Morningstar DirectSM users to test a new application we�re developing. Morningstar Plug-In for Microsoft Excel was designed in response to client feedback, and provides the specialized Microsoft Excel calculation capabilities to complement your use of Morningstar Direct. For your convenience, we have created six initial templates based on common client tasks and will be adding new templates in the coming months. Each historical time series can be linked to a saved search or investment list created in Morningstar Direct to quickly and efficiently populate Excel with daily prices, returns, growth indexes and more. Please note that access to this functionality requires a Morningstar Direct subscription.
If you are interested in accessing the Morningstar Plug-In for Microsoft Excel, please email MorningstarDirect@morningstar.com or call +1 866 229-0216. |
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Date Change-Morningstar Fixed Income Style Box�Methodology Change Now Planned for Oct. 31, 2008 |
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Morningstar will be revising the static duration figures used for placing taxable bond funds in the fixed-income Style Box with Oct. 31, 2008 ending data. The new system will �move with the market� by using flexible duration breakpoints based on Morningstar�s Core Bond Index. The goal of the change is to prevent funds from moving between short and intermediate when market conditions, not portfolio holdings, are driving the change.
If you need additional information, the updated Morningstar Fixed Income Style Box™ Methodology document is available here. |
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Hedge Fund Analyst Reports Now Available in Morningstar Direct |
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Morningstar Direct now offers individual hedge fund analyst reports, which include both quantitative analysis and qualitative research on hedge funds. These reports are an essential starting place for due diligence on any hedge fund. Our analysts speak directly with managers, review prospectuses and manager letters, and analyze key data points to write concise and insightful editorial reports.
For more information on Morningstar�s Hedge Fund Services, please visit our corporate Web site here. |
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Morningstar�s Hedge Fund Database Update |
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Morningstar�s new monthly hedge fund database summary report is now available for June. This one-page report covers trends in the hedge fund market, and includes Morningstar�s database statistics on leading and lagging strategies, performance, and assets under management.
If you have questions regarding the data included in this report, please contact your Morningstar Relationship Manager. |
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Extended Performance for Collective Investment Trusts |
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As Collective Investment Trusts (CITs) steadily gain acceptance and market share in defined contribution retirement plans, they are increasingly being compared to and competing against mutual funds, ETFs, and separate accounts. On August 31, 2008, Morningstar will begin to calculate extended performance, or otherwise known as pre-inception returns, for money managers who opt to provide historical performance data.
Morningstar will only calculate extended performance for CITs that meet the following qualifications:
• Only appears for CITs with share classes
•Only applies to CITs, not separate accounts (composites) in the SA/CIT universe
•Shows net returns only for newer CIT share classes, which the CIT money managers provide directly to Morningstar
•Copies over gross returns from the oldest CIT share class available
•Only applies to CIT share classes that are funded with real dollars; we don�t allow unfunded CIT share classes in the database, so all performance must
be �real�
For more information, please contact your Morningstar Relationship Manager. |
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Recap of Previous Announcements
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Glide Path Data Available Now |
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We are pleased to announce the addition of glide path data for target date U.S. mutual funds. Available in raw data or graphic images, this data can fuel retirement solutions for your clients. Collected from the prospectus, the asset allocation breakdowns are at five-year increments. The data reflects asset allocation breakdowns, including leading up to retirement, retirement, and after retirement. 20 different asset allocation types are available for glide path data, including Morningstar's five standard asset allocation breakdowns, Real Estate Investment Trusts (REITs), and commodities. For more information please contact your Morningstar Relationship Manager. |
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Introducing Morningstar Market Intelligence |
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Morningstar Market Intelligence is a Web-based tool that offers comprehensive, timely data views of assets under management, estimated net flow, and market share data for U.S. open-end funds, U.S. money market funds, global ETFs, and global hedge funds. It is meant to complement the analysis available in Morningstar Direct and can help you answer such questions as:
• What distribution channels are fixed-income assets flowing into?
• Which Categories attracted the most assets last month?
• Has my biggest competitor's market share increased over the past year?
If you are a Morningstar Direct subscriber and are interested in becoming a beta tester, please contact sylvester.flood@morningstar.com or your sales director. |
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Morningstar Index Team Publications |
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Morningstar's index team has many resources available that provide concise, in-depth analysis and data on market trends as seen through Morningstar's style, sector, bond, and commodity indexes. These free market commentaries are conveniently delivered to your inbox. Click here and click on "Request Market Commentary" to start your subscription. |
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Morningstar Second Quarter Market Commentary |
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Morningstar's index team second quarter commentary is now available. Click here to access. |
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Morningstar Indexes 2008 Now Available |
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MThis annual publication, which highlights of some of our research related to indexes and new product initiatives, is available here. |
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Morningstar Category Classifications Methodology Document |
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In support of the rollout of our new categories and broad asset class, Morningstar has updated our classification methodology document. This document, along with all methodology documentation, can be found here on our corporate Web site. If you have any questions, please contact your Relationship Manager. |
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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 help 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. For additional information, please contact your Morningstar Data Relationship Manager |
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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 subaccount 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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Morningstar News
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Morningstar Announces Two New Fund Categories, One Broad Asset Class |
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Aug. 5, 2008�Morningstar has added two new categories and one broad asset class to our proprietary classification system for mutual fund portfolios domiciled in the United States.
Press Release |
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Morningstar, Inc. Reports Second-Quarter 2008 Financial Results |
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July 31, 2008�We announced our second-quarter 2008 financial results.
Press Release |
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Morningstar, Inc. Reports Second-Quarter 2008 Hedge Fund Performance and Asset Flows |
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July 15, 2008�Morningstar reported a summary of hedge fund performance for the second quarter of 2008. June marked a bad end to a good quarter. The Morningstar 1000 Hedge Fund Index fell 0.73% during the month, pushing down second-quarter returns to 2.07%. Year to date, the index is up only 0.31%, as hedge funds struggled through poor market conditions.
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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Matrix Financial Solutions—Get Connected Conference, Keystone, CO, Aug. 24-27, Booth 104 |
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PSCA, Profit Sharing/401k Council of America National Conference—Sept. 16 - 19, 2008 Nashville, TN in the Gaylord Opryland Resort Hotel & Convention Center. |
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NAVA Annual in Philadelphia, PA Oct. 5-7, 2008 at the Philadelphia Marriott Downtown |
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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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