Wiesenberger of Rockville, Md., announced last week it has formed an alliance with UpTick Data Technologies of San Francisco to produce research reports on mutual funds.

The reports will include computer-generated commentary on all mutual fund's performance, risk and holdings. They will be updated monthly, and will show these variables in relation to a fund's peer group, its benchmark and its own historical averages. The reports will also include information on each fund's returns, risk, modern portfolio theory measures, operations, expenses, management and portfolio holdings, and hypothetical illustrations for assumed investments. Wiesenberger will distribute the reports to financial advisory firms, fund companies, financial portals and other institutions.

The product is unusual because the commentary is computer generated rather than written by analysts, said Ramy Shaalan, a spokesperson for Wiesenberger. Also, since it is not written by analysts, the information on all of the approximately 11,000 existing funds is updated monthly. In contrast, Morningstar, which has similar information, provides such information on even the largest funds, only several times annually, said Shaalan.

Unlike Morninstar's and other comparable information available, Wiesenberger's does not come with advice, Shaalan said. Wiesenberger is a division of Thomson Financial, the publisher of this newsletter.

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