Hong Kong, Jan. 27, 2015—Yu-Tsung Chang has been appointed business development leader, Asia, for Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research. Based in Tokyo, Chang will be responsible for business development and relationship management for clients across Asia.

"We are delighted to welcome Yu-Tsung Chang to the team in Tokyo," Katsunari Yamaguchi, president of Ibbotson Associates Japan, an investment advisory subsidiary of Morningstar, said. "He brings a strong track record of proven leadership to Morningstar. His considerable talents will be invaluable in helping us deliver comprehensive solutions that help achieve better outcomes for investors.”

Chang comes to Morningstar from Standard & Poor's in Tokyo, where he served as executive managing director and Asia-Pacific region head for S&P Ratings. Chang holds a bachelor's degree in business and East Asian studies from the University of Wisconsin - Madison.

About Morningstar, Inc. and Ibbotson Associates Japan K.K.

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, and retirement plan providers and sponsors. Morningstar provides data on approximately 479,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 13 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 27 countries.

Ibbotson Associates Japan K.K. is regulated by the Kanto Local Finance Bureau and is part of Morningstar’s Investment Management group. This group, through its investment advisory subsidiaries, creates custom investment solutions that combine award-winning research with proprietary Morningstar data. With approximately $169 billion in assets under advisement and management as of Sept. 30, 2014, the Investment Management group provides retirement, investment advisory, and portfolio management services for financial institutions, plan sponsors, and financial advisors around the world.

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