You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. A new Morningstar report, The Role of Semiliquid Funds in Portfolios, argues that private market allocations through semiliquid funds don’t serve as diversifiers for traditional portfolios. Instead, financial advisors should view semiliquid funds that invest in private equity or private credit as expanding their clients’ overall equity and credit allocations. The findings counter one of the key ...

Core Insights - PitchBook has launched PitchBook Valuation Estimates, a daily framework aimed at providing a consistent, independent, and data-informed valuation signal for over 15,000 VC-backed companies [1][2] Group 1: Valuation Model - The new model combines machine learning with PitchBook's private-market data, public-market signals, and capital-structure insights to determine valuations [1] - Unlike traditional backward-looking valuations based on financial reports and comparable transactions, this model offers daily valuations by incorporating both public and private market data [2] - The model updates last-known valuations using public and private comparables and includes company-specific indicators such as employee growth and company age [2] Group 2: Integration and Product Development - The valuation model is integrated into the overall PitchBook platform, enhancing its offerings in the private market space [3] - This launch is part of a broader strategy by Morningstar and PitchBook to expand their coverage of private markets, following the introduction of various indices tracking companies transitioning from private to public markets [3][4] - Recent product launches include the Morningstar PitchBook GenAI 20 index, which tracks the 20 largest GenAI companies, and several Evergreen Fund Indexes [4]