MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, August 21, 2001 Morningstar Rises At the end of the year, Morningstar Investment Services will be launching the Morningstar Managed Portfolios program. The firm bills this as a discretionary portfolio-management service for financial advisors. The platform is intended to be a turnkey, fee-based investment-management program. At first, it will only include mutual funds that the firm monitors. It will feature back-office operations and support services. There is also a web-based solution that will handle client account management and marketing and sales support. But what will be of keen interest to industry watchers is that Morningstar does not intend to stop there. Starting in 2002, the firm is looking to include separate accounts in the mix so that portfolios can be created from those products as well. "Our core mission is to help people make better investment decisions. Morningstar(R) Managed Portfolios will further that goal by bringing our investment expertise to a new audience of investors," opined Don Phillips, Morningstar managing director. "The program is based on our longstanding investment approach -- using fundamental research to assemble appropriate, diversified portfolios -- and it takes full advantage of Morningstar's comprehensive analytical, data, and research capabilities." Tom Florence, a managing director at the firm, will serve as president of the unit. Art Lutscaunig, formerly director of research and investments for Strategic Advisers, will hold the post of cio. Printed from: MFWire.com/story.asp?s=26860 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |