Morningstar Obtains FSB Licenses to Launch Investment Management Business in South Africa, Hires Victoria Reuvers

Cape Town and London - 3 March 2015

Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, has launched an investment management business in South Africa. Its new entity, Morningstar Investment Management South Africa (Pty) Ltd., has been granted Category I and Category II licenses from the Financial Services Board (FSB) to provide investment advisory and discretionary investment management services to South Africa-based financial institutions and financial advisers. Morningstar also announced that Victoria Reuvers has been named a director and senior investment consultant for Morningstar Investment Management South Africa.

Morningstar Investment Management South Africa is part of Morningstar’s Investment Management group, which offers investment advisory services through more than 100 investment professionals around the world. The firm will provide research-driven, innovative investment services to the local market, including asset managers, wealth managers, family offices, and advisers.

"We are pleased to expand our proprietary asset allocation, manager selection, portfolio construction, and investment advisory services to South Africa," Tal Nieburg, managing director for Morningstar South Africa, said. "There is growing demand among investors in South Africa for investment solutions that cross the full range of investment advisory services. These licenses enable us to leverage Morningstar's global capabilities to deliver investment solutions that help investors achieve better financial outcomes."

Before joining Morningstar Investment Management South Africa, Reuvers founded Trivium Capital, an investment consulting and research firm in Cape Town. Before founding Trivium, Reuvers held several management and research positions at Investec Asset Management. Reuvers holds a bachelor’s degree in finance from the University of Cape Town.

“Vicki is a proven leader with expertise in fund analysis, quantitative research, and portfolio construction and management,” Simon Ewan, head of Morningstar’s investment advisory and portfolio management services for the EMEA region, said. “Our experience working with asset managers to deliver sub-advisory and asset allocation services, and with advisers for managed portfolios, is a natural extension of our business and will transition well to South Africa’s open-architecture environment. We are expanding our team on the ground in South Africa and look forward to working with local clients to deliver enhanced propositions to investors.”

Morningstar Investment Management South Africa is based in Cape Town.

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