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Margaret Kirch Cohenmargaret.cohen@morningstar.com
Morningstar DataLab Now Offers Morningstar Rating - Analysis Module to Forecast and Conduct Hypothetical Morningstar Ratings

CHICAGO, Mar 07, 2002 – Morningstar, Inc., a global investment research firm, has launched a new Morningstar Rating™ Analysis module on Morningstar DataLab, the firm's Internet-based investment research platform for asset managers, consultants, and other investment professionals. For the first time, fund companies can perform a variety of "what if" calculations to determine how expenses, new share classes, and projected performance may affect a fund's future Morningstar Rating.

The Morningstar Rating™ for funds, first introduced in 1985, represents historical return, risk, and cost, and describes how a fund compares with its peers. Ratings are calculated for three, five, and 10-year periods (if available) and are then combined and weighted to arrive at an overall rating. The Morningstar Rating is displayed as one to five stars, with five being the best.

"The Morningstar Rating for funds is a starting point to help investors choose well-performing funds from thousands of alternatives within broad asset classes," said Don Phillips, Morningstar managing director. "Now, fund companies can determine whether its four-star fund is on the cusp of becoming a three-star or five-star fund. Our new Morningstar Rating Analysis module is especially useful when anticipating a future rating for a newer fund that does not have a three-year track record or for projecting the full 10-year weighting for a nine-year-old fund."

The Morningstar Rating™ Analysis Module also presents "what if" scenarios regarding the impact of expenses and loads on a mutual fund's current Morningstar Rating for all relevant time periods. And, if a fund company creates a new share class, their analysts can input alternative front and deferred loads and redemption fees to project a hypothetical Morningstar Rating.

The Morningstar Rating™ Analysis module will also export the results to a portable document format (PDF) or into an Excel™ file for further analysis. 

Morningstar DataLab, which was launched in December 2001, offers mutual fund companies and other institutions unprecedented access to and management of Morningstar's historical database. DataLab is the only Morningstar product that allows firms to analyze thousands of discrete data points. The application will screen and identify trends using a searchable and exportable historical database of performance, including custom time-period calculations, investment style, and portfolio information, such as complete holdings, stock statistics, and regional exposure. Morningstar DataLab is available 24 hours a day via any high-speed Internet connection in the world. Data sets are refreshed daily or monthly as appropriate, and DataLab's global interface will accommodate multinational data universes in the future.

For more information about Morningstar DataLab and the new Rating Analysis module, visit http://datalab.morningstar.com.

About Morningstar
Morningstar, Inc., a global investment research firm, provides financial data, research, online advice, consulting services, and investment solutions for individuals, financial advisors, institutions, and the media worldwide. Morningstar is a trusted source of investment information and analysis for stocks, mutual funds, exchange-traded funds, closed-end funds, and variable annuities. Morningstar has operations in the United States, Canada, Japan, Europe, Australia, New Zealand, and Asia. The company tracks nearly 100,000 investment securities worldwide.

Morningstar.com is listed among the top investing sites by publications such as The Wall Street JournalBarron'sMoneyWorth, and U.S. News & World Report. Morningstar provides investment information for a number of leading Web sites, including Microsoft MoneyCentral, Quicken.com, America Online, and Yahoo! Finance, and Netscape Personal Finance.

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