The Burgiss Manager Universe will undergo its annual reconstitution of fund attributes (e.g. Asset Class, Geographic Focus, etc.) as part of the upcoming Q3 2017 update, scheduled to be released on December 16, 2017. We will also be adding a meaningful number of new constituents, more so than a typical update. As a reminder, our classification process is driven by the underlying investments made by the funds, so the assigned classifications will be updated in cases where a fund changes its strategy and in cases where the availability of more complete, precise information informs us that the classification should be updated. Fund attributes were last reconstituted as part of the Q3 2016 update, when we incorporated the three-tier taxonomy for Asset Class from the Burgiss Private Capital Classification System. Reconstituting annually provides further stability to the Burgiss Manager Universe, while preserving representativeness and the quality of the dataset.

Technical note: Fund sizes will continue to be updated with every Burgiss Manager Universe release to reflect the latest available closing information.