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M*: Rekenthaler Report The Powerful Force: Reversion To The Mean

TedTed
in The Bullpen
FYI: What’s Different?
On June 6, Jeff Ptak explained that Morningstar is changing its policy for hedge funds that convert into mutual funds. Currently, Morningstar calculates and publishes the pre-conversion track records, if the SEC permits that data to be included in the fund’s prospectus. Going forward, Morningstar will stop showing those figures, because they have misled. The former hedge funds have behaved quite differently after becoming mutual funds.
Regards,
Ted
http://news.morningstar.com/articlenet/article.aspx?id=811914
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