Morningstar, Inc. has introduced the Morningstar Analyst Rating and Global Fund Reports for approximately 40 alternative U.S. mutual funds, representing about 75% of the alternative fund universe by assets, according to a press release. Over the next year, the company plans to increase its alternatives coverage to approximately 100 funds.

Initially, Morningstar analysts assigned a Gold rating to one alternative mutual fund, a Silver rating to nine funds, a Bronze rating to seven funds, a Neutral rating to 17 funds, and a Negative rating to six alternative funds.

In a statement, Nadia Papagiannis, director of Morningstar’s alternative fund research, said the firm’s goal for alternative mutual funds “is to help institutions and financial advisors research and compare funds as they continue to seek diversification through alternative investments”.