CHICAGO — Pensions & Investments sold the ePIPER database of manager performance to Morningstar Inc.
Terms of the deal were not announced.
P&I will continue to publish quarterly PIPER performance reports in the newspaper and on the Internet at www.pionline.com. Morningstar, based in Chicago, will collect the data and host the ePIPER web-based product at the P&I website. The data will also be included in other Morningstar products.
With the acquisition of ePIPER data, Morningstar will have one of the most comprehensive databases on separate account managers and commingled accounts in the investment management industry. The combined database will hold specifics on more than 5,000 separate accounts and more than 1,000 investment managers. It will contain qualitative information on the structure, investment strategy and research philosophy of included managers, plus performance, holdings, asset allocations and sector weightings of portfolios as well as the Morningstar Style Box and the Morningstar Ownership Zone.
William T. Bisson Jr., publisher of P&I, called the deal a winner for readers. "We look forward to bringing our subscribers a broader range of separate-account data and functionality, including innovative, proprietary Morningstar statistics. Advisers and institutions who subscribe to Morningstar and ePIPER products will have access to a powerful array of institutional and retail separate-account data."
Liz Kirscher, president of data services at Morningstar, said the firm was "delighted to join forces with P&I."
"The addition of ePIPER's institutional separate accounts to Morningstar's robust retail coverage means richer data for ePIPER subscribers and broader investment coverage in Morningstar products," she added. "This agreement will allow us to apply our investor-centric methodologies to a broad set of data and satisfy a critical information need of financial advisers and investment consultants."
The ePIPER data will be integrated into Morningstar's institutional-grade products such as Morningstar DataLab, a web-based investment research platform, and Licensed Data, a service that delivers data for integration into an institution's own systems and research platforms. It will also be part of products for financial advisers, including Morningstar Advisor Workstation, its online investment planning system, and Morningstar Principia, an investment research and management software program.
ePIPER is the electronic version of PIPER, which was created by P&I in 1976. It is the oldest source of separate account data and the first product to link investment performance to specific managers.