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Press release from PR Newswire

/C O R R E C T I O N -- Morningstar, Inc./

Friday, January 13, 2012

/C O R R E C T I O N -- Morningstar, Inc./10:30 EST Friday, January 13, 2012In the news release, Morningstar Reports U.S. Mutual Fund Asset Flows Through December 2011, issued 13-Jan-2012 by Morningstar, Inc. over PR Newswire, we are advised by the company that some numbers have changed. The complete, corrected release follows: Morningstar Reports U.S. Mutual Fund Asset Flows Through December 2011 CHICAGO, Jan. 13, 2012 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today reported estimated U.S. mutual fund asset flows through December 2011. Long-term mutual funds had a second consecutive month of net redemptions with outflows of $9.8 billion in December. Long-term funds have now experienced outflows in five of the last seven months to mark the worst stretch since the late 2008-early 2009 financial crisis. Including funds that merged or liquidated during the year, long-term funds collected inflows of just $67.1 billion in 2011. Additional highlights from Morningstar's report on mutual fund flows:U.S.-stock funds continued to be the primary driver of outflows, as they shed $17.7 billion in December and about $84.7 billion for the year. 2011 was the sixth consecutive year of U.S.-stock outflows and the worst year for the asset class since $121.2 billion fled in 2008. Although December saw international-stock funds suffer their worst monthly outflows since March 2009 with redemptions of $6.5 billion, outflows for the asset class were roughly flat for the year, leaving them about $85.2 billion ahead of U.S.-stock funds in 2011. Municipal-bond fund flows steadily improved during 2011, with the trend turning positive after outflows peaked at $13.3 billion in December 2010. The asset class finished strong with inflows of $4.8 billion in December, its strongest month since August 2010. Across all asset classes, passively managed long-term funds had inflows of $76.4 billion in 2011, narrowly exceeding the $74.7 billion collected in 2010. The bulk of these inflows went into international-stock and taxable-bond funds. Meanwhile, actively managed funds shed approximately $9.4 billion in 2011. To view the complete report, please visit http://www.global.morningstar.com/decflows11. To view a video recapping December's U.S. fund flow trends, please visit http://bit.ly/decflows. For more information about Morningstar Fund Flows, please visit http://global.morningstar.com/fundflows.  The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee or future results.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 individuals, financial advisors, and institutions. Morningstar provides data on approximately 330,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 5 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment management subsidiaries and has more than $167 billion in assets under advisement and management as of Sept. 30, 2011. The company has operations in 26 countries.©2012 Morningstar, Inc. All Rights Reserved.MORN-RMedia Contact:Carling Spelhaug, 312-696-6150 or carling.spelhaug@morningstar.com SOURCE Morningstar, Inc.