Morningstar Advisor - April/May 2010 - 79

In the Loop

New at Morningstar
Morningstar Launches Valuation Consulting Group

Individual investors concerned about managing their wealth and transferring it efficiently to the next generation tend to focus on their liquid portfolios of stocks and bonds. Business owners often neglect analyzing what is typically their largest, but least-liquid, asset: their business. Ibbotson Valuation Services is now available for consulting engagements focused on valuing privately owned businesses, including specific securities and intangibles (patents, startups, goodwill). Valuations can be performed to help with long-term business and succession planning, or the valuation of a private business might be needed in conjunction with specific events or projects, such as estate planning, a contemplated sale of all or part of the business, equity incentive plans, and many other situations. This is a natural extension of Ibbotson’s capabilities, leveraging decades of expertise in cost of capital. While many valuation-services firms are linked with transaction advisory or tax and audit services, the Ibbotson Valuation Services process is completely independent. Call (866) 590-8474 or send an e-mail to valuationservices@morningstar.com to learn more.
Morningstar Acquires Footnoted.org

evidence of aggressive accounting, excessive compensation, or the type of questionable self-dealing that can indicate more serious problems at a company. With original insight and analysis culled from corporate filings, Footnoted’s free site has become a must-read for professional money managers and analysts, as well as sophisticated individual investors. The company also publishes Footnoted Pro, a service for institutional investors, such as hedge fund firms, that provides insight on actionable items and trends in filings. Leder will continue to run Footnoted, and Morningstar will make some content from the site available on Morningstar.com, the company’s investment website. In the near future, Footnoted.org will become Footnoted. com. Additionally, Morningstar will also offer Footnoted Pro to its individual investor, advisor, and institutional clients. “Morningstar is always looking for ways to provide investors with information to make investing as transparent as possible. There are few better examples of that principle in action than the work Footnoted does to demystify the often-complex details hidden deep in companies’ federal filings,” said Kunal Kapoor, president of individual investor software at Morningstar. “Footnoted and Morningstar share a common goal to shed light on investing, but many investors remain in the dark,” Leder said. “For the past six years, Footnoted has uncovered lots of examples of self-serving actions at publicly traded companies. As part of Morningstar, we’ll be able to provide Footnoted. org’s loyal readers with additional resources from a trusted source for independent research, and we’ll expose thousands of Morningstar clients to our unique content—and what’s truly lurking in public filings.”

Morningstar Names U.K., Pan-European Fund Manager of the Year Winners

Morningstar has announced the winners of its U.K. and Pan-European Fund Manager of the Year awards.
The winners: Morningstar U.K. Equity Fund Manager of the Year

Alastair Mundy of Investec UK Special Situations 2009 return: 37.62% GBP 2009 percentile rank in category: 5 Qualitative Rating: Elite
Morningstar Pan Europe Global Equity Fund Manager of the Year

Edouard Carmignac of Carmignac Investissement 2009 return: 42.6% EUR / 31.0% GBP 2009 percentile rank in category: 16 Qualitative Rating: Elite Carmignac also participated in “The Global View From Abroad” in the Febrary/March 2010 issue of Morningstar Advisor magazine.)
Morningstar Pan Europe European Equity Fund Manager of the Year

Francisco García-Paramés, Alvaro Guzmán de Lázaro & Fernando Bernad of Bestinver Internacional 2009 return: 71.9% EUR/57.9% GBP 2009 percentile rank in category: 6 Qualitative Rating: Elite Get a full list of award winners at http://www. morningstar.co.uk

Morningstar has acquired the Footnoted business of Financial Fineprint Inc., a privately held firm based in Peekskill, N.Y. The acquisition includes the Footnoted.org website and the Footnoted Pro service.Footnoted.org was founded in 2003 by Michelle Leder, author and journalist. Footnoted’s research staff pores over hundreds of SEC filings a day to unearth critical information buried in the fine print, such as

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http://www.Morningstar.com http://www.Footnoted.org http://www.Footnoted.org http://www.Footnoted.org http://Footnoted.org http://www.morningstar.co.uk http://www.morningstar.co.uk http://www.MorningstarAdvisor.com

Morningstar Advisor - April/May 2010

Table of Contents for the Digital Edition of Morningstar Advisor - April/May 2010