SYDNEY, 27 August 2012 — Morningstar Australasia Pty Limited, a subsidiary of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today launched fund analyst research on Australian industry superannuation funds.

The initiative commenced with the publication of research on four investment options offered by AustralianSuper, the largest industry superannuation fund. The analysis is based on the five key pillars of people, process, performance, parent, and price, which Morningstar believes identifies funds most likely to outperform over the long term on a risk-adjusted basis. The analyst team selects funds to cover on the basis of an assessment of investment merit and client demand. Morningstar does not charge or accept payment from superannuation funds or fund managers for the production and publication of analyst research.

"Building retirement savings through superannuation is an important financial goal for the majority of Australians, and the industry superannuation sector is a major part of the retirement savings industry. This research represents another step towards achievement of Morningstar's mission of helping investors achieve their financial goals," Morningstar Australasia Chief Executive Officer Anthony Serhan said.

Serhan continued, "Investors and their advisers will be able to understand the essential characteristics and risks of these funds, and build and manage more effective investment portfolios. This also meets the need of financial planning dealer groups for an independent assessment of industry superannuation funds in the Future of Financial Advice environment."

"We will progressively expand our coverage of the industry superannuation sector, with the intention of providing as broad coverage as possible. Helping investors understand all the investments in their portfolio has been the driver of the expansion of our analyst research in recent years to cover exchange-traded funds, listed investment companies, and hybrid securities as well as shares and managed funds," Serhan said.

Morningstar's Australasian managed funds database now includes 180 superannuation and allocated pension options from major industry superannuation funds. In March 2012, Morningstar Australasia relaunched the Morningstar® Superannuation Survey, containing both commercial, for-profit and industry superannuation options. The survey is designed to enable superannuation fund trustees, asset consultants, and institutional investors to make meaningful assessments of retirement savings vehicles.

The analyst research on industry superannuation funds will be available to investors with a Premium Membership to the Morningstar.com.au website. Financial advisers will have access through Morningstar® Adviser Research CentreTM, a web-based solution developed specifically for dealer groups and advisers, and Morningstar® Adviser WorkstationTM, a global practice and portfolio management solution. The research will also be available in Morningstar® DirectTM, the company's web-based global investment analysis platform for institutional investors.

About Morningstar Australasia Pty Limited and Morningstar, Inc.
Morningstar Australasia Pty Limited is a subsidiary of Morningstar, Inc., 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 advisers, and institutions. Morningstar provides data on more than 385,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than eight 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 adviser subsidiaries and had more than US$186.0 billion in assets under advisement and management at 30 June 2012. The company has operations in 27 countries.