Lipper revised its classification system for international stock and Treasury inflation-protected securities (TIPS) funds, Reuters, the parent company of Lipper, reported on Friday.

Lipper changed its grouping of international (foreign) and global (domestic and foreign) stock funds to include nine categories: large-cap value, core and growth; multi-cap value, core and growth, and small/mid-cap value, core and growth.

TIPS funds, previously listed under "intermediate U.S. Treasury," will now be referred to as TIPS funds.

"As investors are becoming more sophisticated about international investing and funds themselves are becoming more specialized, we saw a need for a more detailed classification structure," said Sean McLaughlin, Lipper spokesman, told Reuters. 

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