Open to the back pages of the "Money and Investing" section of the Wall Street Journal and you'll find a series of indexes, including those from the paper's parent company, Dow Jones. Then flip to fund listings provided by Lipper and you'll find a list of funds delineated by category: small-cap, large-cap, value, core, growth.

Don Phillips, the managing director of Chicago fund researcher and Lipper competitor, Morningstar, says the information contained on those pages is inadequate. Lipper's categorizations on one page don't correspond directly with the indexes on the other. And he thinks his firm has come up with a way to solve the problem.

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