CHICAGO, Jul 16, 2001 Morningstar, Inc., a leading provider of investment information and analytical tools, today announced that Morningstar Korea has launched a free Web-based fund information service serving the South Korean marketplace at http://www.morningstar.co.kr. Korean investors now have access to reports on approximately 1,000 domestic beneficiary certificates in addition to more than 110 off-shore mutual funds authorized for the Korean market.
Morningstar content includes holdings-based portfolio analysis and the Morningstar RatingTM for mutual funds. A team of Korean fund analysts will populate the site with real-time market news, fund commentary, educational reports, feature stories and proprietary data.
The site also offers analytical tools such as Fund Selector, which allows investors to search the database for funds that match their specific criteria, and Fund Compare, which investors can use to gauge how a group of funds perform in relationship to each other.
"The Korean fund industry is re-emerging after a period characterized by the IMF crisis and corporate and financial restructuring. Both individual and institutional investors in South Korea are realizing that reliable and objective information will help them make better investment decisions," said Morningstar Korea CEO Harry Choi.
"Mutual funds are becoming the investment vehicle of choice in Korea," said Jin Tian, Asia regional business manager for Morningstar. "We continue to aggressively expand our services to meet the needs of the region and expect to build a significant presence in Asia."
Morningstar Korea was established in September 2000 as a joint venture between Morningstar, Inc., Softbank Finance Korea and Shinheung Security Co.
About Morningstar, Inc.
Chicago-based Morningstar, Inc. is an independent provider of investment information and analytical tools. Morningstar.com is listed among the top investing sites by publications such as The Wall Street Journal, Barron's, SmartMoney, Money and Worth. The company provides investment information for a number of leading Web sites, including Microsoft MoneyCentral, Quicken.com, America Online and Yahoo! Finance.
Morningstar is a global company with nearly 800 employees in the United States, Japan, Canada, Australia, New Zealand, Europe and Asia. The company collects, validates and publishes information on more than 50,000 investment products worldwide.
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¬2001 by Morningstar, Inc. All rights reserved.