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Jason Kephart

Jason Kephart, CFA, is director of multi-asset ratings for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc.

Before joining Morningstar in 2014, Kephart spent seven years as a journalist for InvestmentNews, Fund Action, and SmartMoney, reporting primarily on the mutual fund and exchange-traded fund industries.

Kephart holds a bachelor’s degree in English from Florida State University. Follow Jason on Twitter: @JasonKephart

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Long-short equity funds should, in theory, help protect against big equity market drawdowns but large players like AQR and Boston Partners were hit hard when value stocks sank last year.