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| | | | | | Morningstar Announces Korea Fund Awards 2012 | | SOUTH KOREA, March 30, 2012 — Morningstar Korea Company Limited, a subsidiary of independent investment research firm Morningstar, Inc. (NASDAQ: MORN), today announced the winning funds and fund groups for the Morningstar Korea Fund Awards 2012.
The Morningstar Korea Fund Awards 2012 recognize retail funds and fund groups that added the most value for investors within the context of their relevant peer group in 2011 and over the longer term. Winners are selected using a quantitative methodology with a qualitative overlay developed by Morningstar that considers the one- and three-year performance history of all eligible funds, and adjusts returns for risk using Morningstar Risk, a measure that imposes a higher penalty for downside variation in a fund’s return than it does for upside volatility. The Morningstar Fund House Awards recognize those fund families that have delivered sustained Morningstar risk-adjusted return with their three-year records Korea-domiciled fund line-ups.
Sunny Ng, director of Asia fund research for Morningstar Asia, said, “While the wealth of individuals in Asia continues to grow at a record pace, fund ownership in most Asian countries remains well below 10%. This is significantly lower than their Western counterparts, especially the United States where it is nearly 50%”.
He continued, “There are three major barriers to fund ownership growth in the region: short-term performance orientation, high distribution and management fees, and a misalignment of interests between investors and asset managers. More responsible product development coupled with proper investor education could help break the cycle and encourage a prosperous and stable fund industry in the region.”
The winners of the Morningstar Korea Fund Awards 2012 are:
Category Awards and Winning Fund
Broad Emerging Markets Equity Fund: Deutsche DWS Next Emerging Equity Feeder Class A
Korea Bond Fund: KB Retirement Pension Bond Feeder
Korea Large-Cap Equity Fund: Eastspring Investments Korea Leaders Securities Investment Trust
Korea Small/Mid-Cap Equity Fund: Samsung Korea Mid/Small-Cap Focus Equity Fund 1 Class A
Fund House Awards and Winning Fund House
Domestic Equity: Samsung Asset Management
Domestic Fixed Income: Tongyang Asset Management
International Equity: Hi Asset Management Co., Limited
The Morningstar Korea Fund Awards are based on Morningstar fund data for the period 1st January 2011 to 31st December 2011. For more information about the awards and the methodology, please click here.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individuals, financial advisors, and institutions. Morningstar provides data on approximately 375,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 8 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its registered investment advisor subsidiaries and has more than $180 billion in assets under advisement and management as of Dec. 31, 2011. The company has operations in 27 countries.
Morningstar expanded to Asia in April 2000 and has grown its businesses into Japan, Korea, India, Mainland China, Taiwan, Singapore, Malaysia and Hong Kong. The Asia operations not only offers timely information on mutual funds, but also insightful and independent analyses, unbiased fund ratings, and sophisticated analytic tools to help both individual and professional investors make better investment decisions.
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