Morningstar, Inc. said it is creating a global hedge fund and private partnership database to assist investors as they explore alternative asset classes. The database will be restricted to accredited investors, as defined by the US Securities and Exchange Commission, and their advisors.
The database will include:
- participating funds’ investment strategy
- performance data
- portfolio manager information
- operations data.
Morningstar plans to complete its database over the next year, and Ryan Tagal, product manager, is leading the firm’s initiative. At first, the company will offer hedge fund information through Morningstar DataLab, a Web-based institutional research product for investment professionals.
“One of our goals in creating this database is to help make the hedge fund industry more transparent to all investors,” said Joe Mansueto, chairman and CEO of Morningstar in a news release. “Advisors, investors and institutions who rely on our research are seeking the same quality of information about hedge funds as they evaluate the appropriateness of adding this type of asset class to a particular portfolio.”
Mansueto said Morningstar recently began inviting hedge fund managers to participate in the database.