©2015 morningstar, inc. all rights reserved. morningstar indexes

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Index Landscape 3 For Professional Investor Use Only. Not for Public Distribution. Please see DISCLOSURES at the back for important information regarding this presentation. Morningstar Indexes Our clients need:  The ability to build new index-linked products  Help effectively and consistently benchmarking and analyzing performance  The ability to examine and improve asset-allocation models  A way to capitalize on investment flows across asset classes and borders But they also face:  Increasing demand for passive and semi-passive investment vehicles  Entrenched index providers  Increasing cost structures  A plethora of single-purpose beta indexes