Morningstar Revamps Equities Classifications

Chicago-based data and investment research provider Morningstar last week unveiled a new equities classification structure based on the market that each company serves rather than its type of business, resulting in fewer industry groups and redefined sectors and super-sectors. Officials say the new structure - which comprises 148 industries, 69 industry groups and 11 sectors - will better reflect companies' sensitivity to economic cycles. The vendor will begin rolling out the new classification

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