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Morningstar® DirectSM Asset Flows

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Asset Flows enables you to stay current with market trends by providing a comprehensive and timely picture of the total net assets and estimated net flows across multiple geographical markets as well as organic growth rates for specific markets. You can monitor broad investor trends, perform competitive analysis, develop new products, and market managed investment products. Use simple point-and-click actions to drill down a group of interest, as we will demonstrate shortly.

Outline Access Aggregated Data in Market Summary Search for a Specific Name in Grouping Variable Create Advanced Search to Limit Search Results Create a Custom Excel Report Based on Your Specifications Access Workspace for Commentary Updates and More Access Aggregated Data in Market Summary 1. Go to the Asset Flows folder to activate the Market Summary landing page. This location aggregates large sets of data (grouping variables) such as Asset Classes, Fund Families, Morningstar Categories, Institutional Categories, Active/Passive, Share Class Types, Distribution Channels and more. Within each grouping variable, local results for the given market will be displayed.



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2. There are interactive settings at the top of your view---Market, Market Share Basis, Distribution Channel, Active/Passive---all will drive the results for each grouping variable. Keep in mind, Monthly and Weekly flows are available for specific markets. Click on the Market drop down to view the available markets.

3. Hover over US Open-end & MM Funds and select US Open-end ex MM ex FoF from the subview.



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4. Next, go to the Market Share Basis drop down to access Total Net Assets, Estimated New Flow, or Organic Growth Rate (availability dependent on market). Total Net Assets is the default which we will maintain.

5. Click on the Distribution Channel drop down to access the various distribution channels. All is the default.



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6. Go to the Active/Passive drop down to select from actively-managed investments or passively-managed investments. All Funds is the default.

7. Scroll down the Market Summary page to view the aggregated data for the various groupings as mentioned in step 1 (Fund Families, Broad Asset Classes, Morningstar Categories, and more). At any point, use the simple point and click actions to drill down a group of interest. For example, go to the Morningstar Categories grouping.



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8. Click View Chart, located at the bottom left, to view the Morningstar Category asset flow data in a chart format.

9. Use the interactive drop downs to change your chart settings. Once complete, click Close.



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10. Next, click on Intermediate-Term Bond category.

11. The Intermediate-Term dialog box allows you to drill down using the grouping variables located on the left-side of the window. As you toggle through them, the applicable asset flow data will be displayed.



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12. Click on Fund Families to retrieve all of the fund families in the Intermediate-Term Bond category.

13. Go to the Sub-view dropdown where the display from your initial settings can be changed to another listed choice – i.e. Growth Rate (isolates the growth (loss) in assets due to flows), or Market Appreciation (explains the change in assets due to the appreciation/depreciation of the holdings of the fund).



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14. Click on the Chart icon to the right of Fidelity Investments. Use the interactive drop downs at the top to customize your chart view for Fidelity investments in the Intermediate-Term Bond category. Once complete, click Close.



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Search for a Specific Name in Grouping Variable

1. Click on the Search button at the top of the page. Use this feature as a short-cut to identify a fund, fund family, or other entity of interest. It is an alternative to drilling down in the Market Summary page. Select Fund Family.

2. Using predictive text, type ING and select your choice (i.e. ING Funds).



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3. You will automatically be taken to the ING Funds dialog window. Toggle to the various grouping variables such as Morningstar Ratings. You can also change the Sub-view at the top right to identify specific results.

Create Advanced Search to Limit Search Results

1. The Advanced Search functionality allows you to customize data sets that include multiple values per grouping variable. For example, if you want to analyze the Large Cap business of a competitor, choose Large Growth, Large Blend, and Large Value from the Morningstar Categories list. To demonstrate, click on the Advanced Search button.



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2. Your Advanced Search will be driven by the markets you initially chose in the Market Summary page. In this example, the market is US Open-end ex MM ex FoF. Let’s proceed and go to Morningstar Categories. Select Large Blend, Large Growth, and Large Value for your selected records.

3. Next, click on Share Classes and select the Additional Criteria tab to customize values for Total Net Assets, Sales Charges and more. For example, you can set your Estimated Net Flows greater than 0 to get positive net flows and look at those funds that have sales charge less than 2%. Once you have created your custom search, you can save it which will be stored in the Workspace tab or click Ok to generate the results. Click OK.



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4. As you can see, your report has generated.

Create a Custom Excel Report Based on Your Specifications 1. The Custom Report feature allows you to create reports that are tailored to your needs (i.e. asset flows as of specific dates), enabling you to create, for example, cross-tabular data that can answer questions such as: “What has been the flow by Morningstar Category over the past year?” or “What is the distribution of flows by Morningstar Rating over the past quarter?” Results can be further manipulated in Excel. To begin, click on Custom Reports.



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2. In the custom report window, enter a Name for the custom report. Begin customizing the report with Row Definition and Column Definition. Note that you can select a subset to identify specific fund. In the Row Definition section, choose to group by Morningstar Category. In the Column Definition section, choose Time Series and change the periodicity to Calendar Quarter. Once complete, click on Generate Report. If you save the report, it will be saved in the Asset Flows Workspace tab.

3. Open the Excel file to see the results and further manipulate the asset flow data.



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Access Workspace for Commentary Updates and More 1. Click on the Workspace tab.

2. The Workspace tab provides you with additional resources such as Asset Flows Commentary. In addition, under Saved Actions, you can access your Advanced Searches, Custom Reports, and Investment Lists. Note, every time you create an investment list, the investments in the list can be accessed under Saved Actions for viewing in the Asset Flows module.



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3. Click on View Markets Report.

4. Here, you will have access to the full coverage of all markets, including their completion rate.

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