CHICAGO, Mar 15, 2001 Morningstar, Inc., a leading provider of investment information and analytical tools, today announced that Morningstar Europe has launched a Web-based information service that will cover the entire United Kingdom unit trust and open-ended investment companies (OEIC) market, in addition to offshore funds marketed in the UK. The free service, which will represent more than 3,700 funds initially, is available to investors at www.morningstar.co.uk.
Morningstar UK content includes Morningstar's holdings-based portfolio analysis, total returns, and the Morningstar Rating and Morningstar® Style Box. A team of fund analysts and Web experts will populate the site with real-time news, feature stories, and unbiased data that will give investors a wealth of information on funds to help them make better decisions.
Joe Mansueto, chairman and chief executive officer of Morningstar, said, "Our UK Web-information service represents the first of six sites we plan to launch in Europe this year. We expect to build a significant presence in Europe and are pleased with the feedback we have received from the industry."
"The response from fund managers in the UK has been fantastic and we have received full details of stock holdings within a fund from the majority of the fund-management groups," said Toby Webb, chief executive of Morningstar UK. "Our objective during the coming months is to ensure that we quickly reach a stage of providing full portfolio coverage of all the funds on sale in the UK."
Morningstar opened its European-operations headquarters in London in April 2000. The company employs about 40 people in Europe.
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, Worth, and U.S. News & World Report. Morningstar provides investment information for a number of leading Web sites, including Microsoft MoneyCentral, Quicken.com, America Online, Yahoo! Finance, and Netscape Personal Finance.
Morningstar is a global company with nearly 800 employees in the United States, Japan, Canada, Australia, New Zealand, Europe and Asia. Morningstar collects, validates and publishes information on more than 50,000 investment products worldwide.