Morningstar to introduce Medalist Rating and boost transparency in private markets

Semiliquid becoming 'more accessible'

Investment insight firm Morningstar has introduced its Morningstar Medalist Rating for Semiliquid Funds, expanding its existing framework.

The rating is set to bring greater transparency and due diligence to private markets. Furthermore, the rating expands on the Morningstar Medalist Rating, the company's forward-looking ratings methodology used for mutual funds and ETFs, to a number of vehicles with limited liquidity or exposure to private market assets. Asset management M&A activity fails to bring 'meaningful profitability improvements' These can include interval funds, tender-offer funds, nontraded real estate investment trusts (REITs), and nontraded business development companies (BDCs) in the United States, as we...