Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:M* Wins Kudos For Liquidity Style Research Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 18, 2013

M* Wins Kudos For Liquidity Style Research

Reported by Neil Anderson, Managing Editor

Morningstar just won kudos for research on liquidity style mutual funds.

Today the Chicago-based mutual fund ratings specialists revealed that the CFA Institute's Financial Analysts Journal just gave a "Graham and Dodd Scroll Award" for 2012 to "The Liquidity Style of Mutual Funds," a paper by Morningstar Investment Management division chief Thomas Idzorek, senior research consultant James Xiong and Ibbotson Associates founder Roger Ibbotson [see the paper].

This is Morningstar's tenth win from the FAJ.


Company Press Release


Idzorek, Xiong, and Ibbotson Receive Graham and Dodd Award from the CFA Institute Financial Analysts Journal

CHICAGO, March 18, 2013—Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today announced that the CFA Institute Financial Analysts Journal (FAJ) has selected "The Liquidity Style of Mutual Funds" by Thomas Idzorek, James Xiong, and Roger Ibbotson for a prestigious Graham and Dodd Scroll Award for 2012. Idzorek, CFA, is president of the Morningstar Investment Management division; Xiong, Ph.D., CFA, is a senior research consultant in the Morningstar Investment Management division; and Ibbotson, Ph.D., CFA, is founder of Ibbotson Associates, chairman and chief investment officer of Zebra Capital Management, and professor of finance at the Yale School of Management. Morningstar acquired Ibbotson Associates in 2006. This is the 10th award from the FAJ won for financial writing based on research of Morningstar, Inc. or its subsidiaries.

Recent studies have shown that a liquidity investment style—investing in stocks with lower trading volume—has led to excess returns. In “The Liquidity Style of Mutual Funds,” the authors examined whether this style premium, previously documented in stock investing, can be applied at the mutual fund level. Across a wide range of mutual fund categories, they found that, on average, mutual funds that held less-liquid stocks significantly outperformed those that held more-liquid stocks. The paper was published in the November/December 2012 edition of the FAJ and can be found at http://www.cfapubs.org/doi/pdf/10.2469/faj.v68.n6.3.

”There are many lenses through which we can view investments—large capitalization versus small, growth versus value. Liquidity offers another valuable lens to help investors evaluate and select mutual funds,” Joe Mansueto, chairman and chief executive officer of Morningstar, said. “For years, Tom, James, and Roger have been producing innovative research on manager selection, asset allocation, and portfolio construction with an emphasis on theories and techniques that can be put into practice. We’re pleased that the FAJ recognized these thought leaders and their contribution to the field.”

Awarded by the FAJ’s Advisory Council and Editorial Board, the Graham and Dodd Awards are given in recognition of excellence in research and financial writing. The FAJ is published six times a year by CFA Institute, the global association of more than 100,000 securities analysts, portfolio managers, strategists, consultants, and other investment specialists. The Journal advances the knowledge and understanding of the practice of investment management through the publication of high-quality, practitioner-relevant research.

About Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individuals, financial advisors, and institutions. Morningstar provides data on approximately 416,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 9 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its registered investment advisor subsidiaries and has approximately $149 billion in assets under advisement and management as of Dec. 31, 2012. The company has operations in 27 countries.

The Morningstar Investment Management division is a division of Morningstar and includes Morningstar Associates, Ibbotson Associates, and Morningstar Investment Services, which are registered investment advisors and wholly owned subsidiaries of Morningstar, Inc.
 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use