Morningstar has inked a deal to make eVestment separate account and hedge fund data available to users of Morningstar Direct, the company's global investment analysis platform for institutional investors.

eVestment's database of more than 22,000 separate accounts and 23,000 hedge funds will be available for an additional annual fee to Direct users in 2014.

"The eVestment data complements Morningstar's institutional data, and will provide Direct users with an even larger pool of separate accounts and hedge funds with significant depth and history of information," Xiaohua Xia, senior vice president of institutional software at Morningstar, said in a statement. "We are pleased to be able to offer this robust collection of investment strategies to our users to support their global manager search efforts and better serve their clients." 

Morningstar Direct users will be able to research, filter and rank strategies available in the eVestment databases based on a variety of operational data points, investment characteristics and performance measures.

Morningstar plans to offer additional functionality later next year, including the ability to create peer groups and custom score cards as well as customizable charts and tables for presenting findings to clients.

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