CHICAGO, Feb 20, 2003 Morningstar, Inc., a global investment research firm, today announced that it has created a customized set of online investment planning tools for use by portfolio managers in the private asset management group of U.S. Bancorp Asset Management. Through Morningstar Advisor WorkstationSM, U.S. Bancorp Asset Management's portfolio managers can manage client portfolios and conduct in-depth investment research.
"Morningstar worked with us to create a customized solution tailored to fit the needs of our portfolio managers. We're impressed with Workstation's flexibility and look forward to finding more ways to incorporate it into our business," said Rick Martin of U.S. Bancorp Asset Management's private asset management group.
"Now more than ever, individuals are seeking professional investment advice to help weather the tumultuous market and meet long-term goals," said Chris Boruff, president of Morningstar's Advisor business. "We've developed a platform that will provide both the adaptability to serve each client's distinct needs and the stability to deliver standardized investment advice."
Morningstar is providing U.S. Bancorp Asset Management with customized Morningstar Advisor WorkstationSM tools, which includes investment research and portfolio analysis features. Workstation's research module compares more than 150 data points on nearly 14,000 mutual funds; offers advanced screening capabilities; and notifies advisors of important changes in style, performance, and operations with an advanced Alerts system. Its portfolio analysis features include tools such as Morningstar Portfolio X-RaySM, which examines a portfolio's asset allocation, equity-style distribution, and stock sector weightings.
Nearly 30,000 financial advisors from more than 30 institutions such as Merrill Lynch Investment Managers, Commonwealth Financial Network, Scudder Investments, and AXA Advisors are using Workstation tools to help their clients reach their financial goals.
About U.S. Bancorp Asset Management, Inc.
Based in Minneapolis, U.S. Bancorp Asset Management, Inc. is a registered investment advisor and subsidiary of U.S. Bank National Association. It serves as the investment advisor to the First American family of funds and provides investment management services to individuals and institutions -- including corporations, foundations, pension funds, public funds, and retirement plans -- and has combined assets under management of $113 billion as of Dec. 31, 2002. The firm has offices in 22 states.
About Morningstar, Inc.
Chicago-based Morningstar, Inc. is a global investment research firm, offering an extensive line of print, software, and Internet-based products and services for individuals, financial advisors, institutions, and the media. The company is a trusted source for investment information, data, and analysis of stocks, mutual funds, exchange-traded funds, closed-end funds, and variable annuity/life subaccounts.