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Margaret Kirch Cohenmargaret.cohen@morningstar.com
Morningstar Enhances Variable Annuity Data to Create Most Complete Database in Industry

CHICAGO, Jul 08, 2003 – Morningstar, Inc. has significantly enhanced its proprietary variable annuity data, creating the most comprehensive VA universe in the industry.  The Morningstar database now includes full coverage of 975 variable life policies, 30,500 subaccounts, 2,800 underlying insurance funds, and the most complete collection of Variable Investment Trust/VA underlying funds.  With the additional underlying funds information, and Morningstar's proprietary measurements, such as the Morningstar RatingTM and Morningstar Style BoxTM, asset managers can better compare funds for competitive research and product development, and financial advisors can research funds to assemble better client portfolios.

"We have been providing data on variable annuities since the early 1990s.  With our recent changes, investment professionals can now turn to Morningstar for the most complete VA information available anywhere," said Liz Kirscher, president of Morningstar's data services unit. "We've enhanced our database to include all the tools advisors and institutional investors need to conduct in-depth research and weigh variable annuities against other investment products such as individual stocks, mutual funds, closed-end funds, and separate accounts." 

With the new, enhanced variable annuity database, professional investors and financial advisors can now: 

  • Measure variable annuity underlying fund information against open-end mutual funds to ensure an apples-to-apples comparison.   
  • Isolate variable annuity subaccount and variable annuity fund performance information from fees and insurance expenses to conduct the most thorough analysis. 
  • Evaluate variable annuities using the new Morningstar RatingTM methodology, and the new Morningstar Categories for more focused research.

The data, which is updated monthly, will be rolled out this summer in the following products:

  • Morningstar® DataLab®, a Web-based investment research platform for institutions, combines advanced holdings and performance analysis with an inside look into Morningstar's proprietary statistics across data universes.  In addition to its mutual fund and separate account universes, DataLab features underlying funds data in its variable annuity universe that can help research professionals conduct advanced peer group and style analysis. Asset managers and insurance companies can use DataLab to research, create, monitor, and market variable annuity products.   
  • Morningstar® Principia® is one of the leading investment software systems in the financial planning industry. It features a series of six modules that provide timely data on more than 15,000 mutual funds, 2,600 separate accounts, 7,000 stocks, 500 closed-end funds, and 30,500 variable annuity/life subaccounts.   
  • Morningstar® Advisor WorkstationSM is an online investment-planning system.  With Advisor Workstation, advisors can create customized Morningstar Hypothetical Reports for any combination of variable annuities, separate accounts, mutual funds, stocks, exchange-traded funds, closed-end funds, and individual stocks.   
  • Investment Profiles, one-page summary reports for both subaccounts and underlying funds, that present key performance and portfolio information for investment professionals to use with clients. 

The company first began offering variable annuity information in May 1991 through Morningstar's Variable Annuity Performance Report.

About Morningstar, Inc.
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, separate accounts, exchange-traded funds, 529 plans, closed-end funds, and variable annuity/life products.

Morningstar® Advisor WorkstationSM is provided by Morningstar Associates, LLC, a registered investment advisor and a wholly owned subsidiary of Morningstar, Inc.       

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