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Morningstar Announces Winners for Morningstar European Fund Manager of the Year Awards 2017
LONDON, 9 May 2017—Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, has announced the winners for its eighth annual Morningstar European Fund Manager of the Year Awards.

Morningstar’s European Fund Manager of the Year Awards draw upon the qualitative analysis of the company’s European manager research team to recognise the best fund managers. The awards are presented in three categories:
  • Fund Manager of the Year: European Equity;
  • Fund Manager of the Year: Global Equity; and
  • Fund Manager of the Year: Fixed-Income
“I’m pleased to reveal the winners of our annual Morningstar European Fund Manager of the Year,”
Javier Saenz de Cenzano, Director of Morningstar’s Manager Research Practice for EMEA, said. “At Morningstar, we look for managers who demonstrate long-term commitment to their investors, and each of this year’s award winners has certainly done that, delivering exceptional experience to investors over the long term. In defining the winners, our manager research team is further guided by the principles of our five pillar Analyst Ratings methodology, ensuring consistency across the awards over time, and ensuring that the best managers receive the recognition their efforts for investors deserve.”

The 2017 winners are:

Morningstar Fund Manager of the Year: European Equity
Fund Manager / Fund / Morningstar Analyst Rating™
Martin Skanberg and team / Schroder European / Silver

Martin Skanberg is a seasoned manager with over 20 years’ experience who has followed the same style-agnostic investment approach for over a decade. His investment process is primarily bottom-up, drawing heavily on the fundamental research of Schroder’s European equity team for investment ideas. He has a core portfolio, but will tilt the portfolio more towards value or growth depending on where he sees the best ideas, using his interpretation of the research coming through from the underlying analysts.

Skanberg has proved highly effective at leveraging his supporting analytical resources, undoubtedly helped by his previous experience as an analyst and head of research, and as a result, investors have benefited from consistently high returns driven primarily by strong stock selection. Such success has seen Skanberg amass significant assets over the years, and his sensible attitude to capacity management - maintaining a minimum market cap of EUR 1 billion on investments – has allowed him to keep the strategy scalable.

Morningstar Fund Manager of the Year: Global Equity
Fund Manager / Fund / Morningstar Analyst Rating™
Jeremy Podger / Fidelity Global Special Situations / Silver

Jeremy Podger has 30 years’ investment experience, for over two decades of which he has successfully managed global equity mandates at investment houses, including Investec and Threadneedle before joining Fidelity and taking over the Fidelity Global Special Situations fund in 2012. His approach is best described as core, but he can be considered pragmatic, and is happy to tilt the portfolio in line with his top-down views with regards to value/growth and by region/sector within the parameters of the mandate. He has shown an ability to read markets very well over the years, although this has always been to set the context of the portfolio rather than to drive its positioning, with stock selection being the main driver of returns on this fund and throughout his career.

Podger has always managed to make highly effective use of the resources available to him. At Threadneedle he had a dedicated global equities team that would undertake its own research and interpret that of the group’s regional teams work in a global context. At Fidelity, he is not able to direct the research in the same way, but he has clearly adapted to the group’s analyst bank setup very quickly.

Morningstar Fund Manager of the Year: Fixed-Income
Fund Manager / Fund / Morningstar Analyst Rating™
Sander Bus and Roeland Moraal / Robeco High Yield Bond / Silver

Sander Bus and Roeland Moraal are very experienced high-yield managers held in high regard by Morningstar. Bus has been involved with the Robeco High Yield Bonds fund since its launch in 1998, initially as co-manager and since 2001 as lead manager, while Moraal joined as a co-manager in 2003. Both are supported by a well-resourced credit analyst team and both have personal investments in the fund, which help align their interests with those of their investors.

Bus and Moraal apply a solid and proven investment process driven by in-depth bottom-up research combined with a good sense of risk awareness, and have demonstrated their ability to add value through superior credit selection and favourable credit beta management in both upward and downward markets.

Under Bus as lead manager, the fund has outperformed the Morningstar Category by wide margins and outperformed its own benchmark over a ten-year period, which is a high hurdle to overcome in high-yield bonds. Risk-adjusted returns are also impressive, landing the fund in and around the top decile over three-, five- and ten-year periods.

- Ends -

Notes to Editors:
Morningstar’s European manager research team nominates fund managers for the Morningstar European Fund Manager of the Year awards. To qualify for a nomination, at least one fund under a manager’s leadership must be a Morningstar Medalist--a fund that has garnered a Morningstar Analyst Rating™ of Gold, Silver, or Bronze. A fund manager may be nominated providing the fund associated with his or her nomination is available for sale in at least one European market.

For more information about the Morningstar Analyst Rating methodology, please visit http://corporate.morningstar.com/us/documents/MethodologyDocuments/AnalystRatingforFundsMethodology.pdf.

The Morningstar Analyst Rating represents Morningstar analysts’ opinion of a fund’s relative investment merit. The rating is a forward-looking measure and identifies the analyst team’s conviction in a fund’s long-term performance prospects relative to a relevant Pan-European and Asian peer group. The Morningstar Analyst Rating scale is Gold, Silver, Bronze, Neutral, and Negative.

Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Morningstar’s current expectations about future events and therefore involve unknown risks and uncertainties that may cause Morningstar’s expectations not to occur or to differ significantly from what was expected. Morningstar does not represent its Analyst Ratings to be guarantees nor should they be viewed as an assessment of a fund’s or the fund’s underlying securities’ creditworthiness. The references above should not be considered a solicitation by Morningstar to buy securities.

About Morningstar, Inc.
Morningstar, Inc. is 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 individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutional investors in the private capital markets. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than US$200 billion in assets under advisement and management as of March 31, 2017. The company has operations in 27 countries.

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