Morningstar, Inc. - August 15, 2025
Semiliquid Funds Are Coming for Your Portfolio. Are You Ready for Them?
What investors need to know about interval funds, tender offers,...
 Morning DigestAugust 15, 2025 Dan Culloton What investors need to know about interval funds, tender offers, BDCs, and other vehicles for gaining exposure to private assets. 
ADVERTISEMENT  Editor's Picks  The evolution of interval and tender-offer funds. Brian Moriarty  Funds that cross the public/private divide are getting a second life. Hilary Wiek  Salim Ramji discusses private markets, cryptocurrency, and Vanguard. Christine Benz, Dan Lefkovitz  If you want to invest in these high-potential vehicles but are worried about your liquidity, here’s what to know. Tori Brovet Investing Insights Pfizer, Bristol-Myers Squibb, and DraftKings are among the names that are still cheap despite impressive earnings beats. Bella Albrecht These top-rated Vanguard ETFs and mutual funds are excellent choices to buy and hold. Tori Brovet Investors benefit from increased flexibility. Stephen Welch Recent Earnings New Stock Analyst Reports Flutter's (FLTR) group revenue rose 16%, supported by 17% and 16% increases in the US and internationally, respectively. Group EBITDA was up 25%, driven entirely by US margin expanding to 22.3% from 17%, as marketing expenses in the region decreased 13%. US sports betting revenue increased 11%, aided by a 70-basis-point increase in the structural margin (the share of a wager kept before promotions) to 13.6%. New Fund Analyst Reports The Pimco StocksPLUS strategy’s (PPUAX) experienced and talented team continues to skillfully execute its relatively complex approach, earning it a People Pillar rating upgrade to High from Above Average. A considerable combination of talent and supporting staff runs this strategy. The Tools You Need to Invest Like an Analyst Stay connected:
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