The new index tracks 100 leading US firms, combining 90 public companies with 10 late-stage private companies.

Morningstar along with PitchBook has launched the Morningstar PitchBook US Modern Market 100 Index , with the aim to revise benchmarks by bringing together private and public market exposure in one single index . Traditional stock indexes focus only on publicly traded companies. This method, according to Morningstar misses many fast-growing private companies in areas like AI, biotech and fintech .  These companies often remain private for longer. Morningstar says this new benchmark offer