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INTERVIEW-Morningstar to cover India funds by early 2009

Reuters India- U.S. firm Morningstar Inc will expand its investment research coverage to Indian funds by early next year and hopes to hire 10-20 staff by March, a senior executive said on Monday.

Morningstar, founded by its Chairman and Chief Executive Joe Mansueto in his Chicago apartment in 1984, has made a name for itself by rating mutual funds, hedge funds and stocks and is popular for its star system of rating fund performance.

"India represents a very important investment area worldwide. So we need to be here not only to serve the Indian market but for the global investment community," Jaideep Vivekanand, director of business development for India at Morningstar Asia Ltd, said.

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