November 13, 2018

Matt Wacher Named Chief Investment Officer for Morningstar Investment Management, Asia-Pacific

Current Chief Investment Officer Andrew Lill will shift focus to the United States and Canada but continue to oversee Asia-Pacific region during transition

SYDNEY, Nov. 13, 2018 – Morningstar Investment Management Australia, Ltd., a leading provider of discretionary investment management and advisory services, and subsidiary of Morningstar, Inc. (Nasdaq: MORN), today announced that Matt Wacher has been appointed chief investment officer for Morningstar Investment Management, Asia-Pacific, effective late January 2019. Wacher will be responsible for leading the investment management teams in Australia and overseeing the multi-asset and equity-managed funds and managed accounts capabilities. Wacher will be based out of Sydney and report to Daniel Needham, Morningstar Investment Management group’s president and global chief investment officer.

Andrew Lill, who currently serves as chief investment officer, Morningstar Investment Management, Asia-Pacific, will continue to lead this area until Wacher has completely transitioned into the role. Following the transition of responsibilities in Australia, Lill will shift focus to his new role as chief investment officer, Morningstar Investment Management, Americas. Lill will be based out of Chicago and report to Needham.

“We believe that Matt will be an invaluable addition to the Asia-Pacific team as we build a global investment management business. He comes to us with a strong foundation of risk and principles of portfolio construction that aligns with our investment philosophy. His leadership style is essential Morningstar: inclusive, collaborative, and a focus on integrity,” said Needham. “Additionally, we are pleased that Andrew will be joining our Americas team as chief investment officer. Since 2014, Andrew has successfully led the Asia-Pacific investment strategies and teams and we look forward to bringing that expertise and skill to our Americas team.”

“I’m delighted to join the highly reputable Morningstar Investment Management team in Australia,” said Wacher. “I’ve observed Morningstar’s commitment to long-term valuation-driven asset allocation and portfolio construction and look forward to continuing to help investors reach their financial goals through our research-based investment solutions and opportunities.”

Wacher joins Morningstar from Cambooya Pty Limited, a large family office fund in Australia managing private assets, where he was appointed chief investment officer in 2015. Prior to Cambooya, Wacher served as portfolio manager at Qantas Super Ltd, a leading corporate superannuation fund. Wacher has an MBA qualification from Australian Graduate School of Management, Australian School of Business, and is a charterholder of the Chartered Alternatives Investment Association.

Additionally, Jody Fitzgerald will be head of institutional portfolio management and solutions for Morningstar Investment Management Australia, upon her joining Morningstar at the end of November 2018. Fitzgerald is responsible for the design and management of institutional portfolios and solutions. With more than 20 years of industry experience, Fitzgerald most recently served as the head of investment product and strategy for Australian Unity Investment. Prior to that, she held other senior management roles at UBS Wealth Management, Deutsche Asset Management, and Skandia.

About Morningstar’s Investment Management group  
Morningstar’s Investment Management group is a leading provider of discretionary investment management and advisory services. Guided by seven investment principles, the group is committed to focusing on its mission to design portfolios that help investors reach their financial goals. The group’s global investment management team works as one to apply its disciplined investment process to all strategies and portfolios, bringing together core capabilities in asset allocation, investment selection, and portfolio construction. This robust process integrates proprietary research and leading investment techniques. As of Sept. 30, 2018, Morningstar’s Investment Management group was responsible for more than $207 billion* in assets under advisement and management across North America, EMEA, and Asia-Pacific.

In addition to advisory services, the group’s investment professionals build and manage model portfolios for financial advisors in the United States, United Kingdom, Australia and South Africa to create strategies that incorporate a wide variety of investment objectives. 

*Includes assets under management and advisement for Morningstar Investment Management LLC, Morningstar Investment Services LLC, Morningstar Investment Management Europe Ltd., Morningstar Investment Management Australia Ltd., Ibbotson Associates Japan, Inc., Morningstar Investment Management South Africa (PTY) LTD, and Morningstar Associates, Inc. all of which are subsidiaries of Morningstar, Inc. Advisory services listed are provided by one or more of these entities, which are authorized in the appropriate jurisdiction to provide such services. 

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 $207 billion in assets under advisement and management as of Sept. 30, 2018. The company has operations in 27 countries. For more information, visit Follow Morningstar on Twitter @MorningstarInc.

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