InvestmentNews- Morningstar Inc.’s recent launch of a star-rating system for hedge funds is the ultimate move into the mainstream for an asset class that has long thrived as an exclusive alternative investment.
"This is just further evidence of the notion that hedge funds have a proper place in the individual investor marketplace," said Mitchell Nichter, a New York-based partner at Paul Hastings Janofsky & Walker LLP of Los Angeles.
For Morningstar, the move to apply its renowned star ratings to hedge funds represents the next step in a multiyear process to expand into the alternatives space.
"This has been in the back of our minds for a long time," said Ryan Tagal, Morningstar’s director of alternative investments.
