Morningstar Announces Winners for 2022 Hong Kong Morningstar Awards for Investing Excellence

HONG KONG,March 24,2022 -- Morningstar,Inc. (Nasdaq: MORN),a leading provider of independent investment research,today announced the winners for the 2022 Hong Kong Morningstar Awards for Investing Excellence.

The awards recognise those funds and asset managers that have served investors well over the long term and which Morningstar's Manager Research team believes will be able to deliver strong risk-adjusted returns in the longer term.There are three types of Morningstar award: the Morningstar Category Awards,the Morningstar Asset Manager Awards,and the Morningstar Asset Manager Sustainable-Investing Awards.

Wing Chan,Morningstar's Head of Manager Research,Europe and Asia Pacific,remarked: "The objective of the Morningstar Awards for Investing Excellence is to highlight funds and fund groups that have done a great job for investors and that we think should continue to serve them well in the long run."

"Our 2022 winners,across equity and fixed-income categories,have been carefully chosen by our analysts and represent some of the best funds and fund groups in the industry. The winner of our newly introduced Asset Manager –Sustainable Investing Award has one of the best ESG programs in the industry and has built it into its investment DNA," he continued.

The 2022 Morningstar Awards for Investing Excellence award winners in Hong Kong are:

Morningstar Category Awards

Winner

Best Global Equity Fund

Stewart Investors Worldwide Leaders Sustainability

Fund I USD ACC

Morningstar Analyst Rating: Silver

Best Asia Equity Fund

Schroder ISF Asian Eq Yld A1 Dis USD M

Morningstar Analyst Rating: Bronze

Best China Equity Fund

FSSA China Growth Fund – Class I (USD Acc)

Morningstar Analyst Rating: Silver

Best Global and Asian Bond Fund

PIMCO GIS Income Fund E USD Acc

Morningstar Analyst Rating: Bronze

Morningstar Asset Manager Awards

Winner

Best Asset Manager

Capital Group

Morningstar analyst comments:

Capital Group's multimanager system is key to its success. Dividing each fund into independently run sleeves lets managers invest in line with their styles,enhancing diversification and reducing the overall portfolio's volatility. The funds' analyst-led research portfolios help develop the next generation and recruit top talent with the promise of running money from the start. The result is an investment culture marked by lengthy tenures,strong manager fund ownership,and competitive long-term records.

Morningstar Asset Manager Sustainable-Investing Awards

Winner

Best Asset Manager - Sustainable-Investing

Stewart Investors

Morningstar analyst comments:

Stewart Investors has a long and distinguished record of ESG investing. Its Sustainable Funds Group specializes in offering sustainable products and focuses on investing in firms that help drive the sustainable development of the markets in which they operate. They are active and engaged shareholders,seeking to make a real and positive impact on their portfolio companies.

Methodology

These awards are determined by a combination of risk-adjusted medium- to long-term performance track records and Morningstar's forward-looking rating for funds,the Morningstar Analyst Rating™,complemented by the Morningstar Quantitative Rating™ (MQR),when necessary. The MQR is a quantitative rating that seeks to emulate the Analyst Rating and uses the same Gold,Silver,Bronze,Neutral,Negative scale as the former. The Morningstar Asset Manager – Sustainable Investing Awards are determined by a combination of Morningstar's ESG Commitment Level for asset managers,along with Morningstar's sustainability metrics for funds and Manager Research analysts' knowledge of the fund groups they assess in the context of the Morningstar Analyst Rating for funds.

The full methodology for the awards is availablehere.

About Morningstar,Inc. and Morningstar Investment Management Asia Limited

Morningstar Investment Management Asia Limited is a subsidiary of Morningstar,Inc.,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 owners,retirement plan providers and sponsors,and institutional investors in the debt and 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,debt securities,and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries,with approximately US$265 billion in assets under advisement and management as of Dec,31. 2021. The Company has operations in 29 markets. For more information,visitwww.morningstar.com/company. Follow Morningstar on Twitter @MorningstarInc.

The investment research reports made available are provided by various Morningstar entities that are authorized and registered with the proper regulatory authority or are exempt from such registration. Morningstar Investment Management Asia Limited is authorized and regulated by the Hong Kong Securities and Futures Commission to provide investment research and non-discretionary investment advisory services to professional investors only.

Morningstar's Manager Research Group consists of various wholly owned subsidiaries of Morningstar,Inc. including,but not limited to,Morningstar Research Services LLC. Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Morningstar's Manager Research Group's current expectations about future events and therefore involve unknown risks and uncertainties that may cause such expectations not to occur or to differ significantly from what was expected.Analyst Ratings are not guarantees nor should they be viewed as an assessment of a fund's or a fund's or separately managed account's underlying securities' creditworthiness. This press release is for informational purposes only; references to securities or a separately managed account investment strategy in this press release should not be considered an offer or solicitation to buy or sell the securities or to invest in accordance with that strategy.

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Media Contact:

Imogene Wong,+852 2973 4646 or imogene.wong@morningstar.com