Winners Announced for 2021 Morningstar Awards for Investing Excellence

CHICAGO, June 21, 2021 /PRNewswire/ -- Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment research, today announced winners of the 2021 Morningstar Awards for Investing Excellence. The awards recognize portfolio managers, asset management firms, and up-and-coming managers, who demonstrate the industry's very best attributes, including investment skill and an alignment of interests with the strategies' investors. 

Morningstar selects leaders in three categories: Outstanding Portfolio Manager, Exemplary Stewardship, and Rising Talent. The winners will be featured on CNBC's "Power Lunch" program today and throughout the week.

"Our 2021 winners represent the best in the asset management industry," said Sarah Bush, director of manager research, North America for Morningstar. "They stand out for their investing acumen and an 'investors first' ethos that has driven strong results."

The 2021 Morningstar Awards for Investing Excellence winners in the U.S. are:

Outstanding Portfolio Manager: Joel Tillinghast, Fidelity
Since taking the helm in late 1989 through May 2021, Tillinghast shaped Fidelity Low-Priced Stock's (FLPSX) long-term track record to be among the industry's best. The fund holds a Morningstar Analyst Rating™ of Silver. Tillinghast distinguishes the portfolio through its exposure to international markets while a preference for consumer cyclical names and a typically lighter financials stake also help the portfolio stand out.

"Joel looks for resilient companies with staying power, doesn't chase fads, avoids firms that lack enduring competitive advantages or load up on debt, and scrutinizes executives' integrity and prowess," said Robby Greengold, strategist for Morningstar. "Though this patient and risk-conscious approach can lag during bull markets, the fund's steady gains, subdued volatility, and impressive downside protection have kept its risk-adjusted results consistently strong."

Exemplary Stewardship: Dodge & Cox
Dodge & Cox's strategies have delivered impressive long-term performance overall, and the firm makes it a practice to price funds in the bottom quartile of their peer groups. The firm stands out for its singular approach to investing; specifically, its value-oriented, often contrarian, investment style that considers a company's entire capital structure has helped define the seven stock and bond mutual funds it has launched.

"Dodge & Cox boasts a pristine reputation that helps it attract talent and has produced stable investment teams that build portfolios through teamwork and consensus," said Bridget Hughes, director of parent research for Morningstar. "Another of its hallmarks has been the firm's well-telegraphed and seamless transitions from one generation of leadership to the next. Its past success in leadership transition and its transparency inspire confidence in the firm for the long haul."

Rising Talent: Sonali Pier, Pimco
Pier became one of the named managers on Pimco Diversified Income (PDIIX), which earns a Morningstar Analyst Rating of Gold, in February 2017 after working at Pimco for four years. Both the annualized and risk-adjusted returns landed in the top quintile relative to multisector bond category peers over her tenure from February 2017 through May 2021. She serves as a rotating member of the investment committee and has key responsibilities in executing Pimco's investment forum process.

"Pier's cautious contrarianism and rising influence at one of the industries' premier and most internally competitive fixed-income asset-management firms stands out," said Eric Jacobson, strategist for Morningstar. "She is distinguished by her willingness to take less risk even if that positioning goes against conventional wisdom."

To read more about the winners, please visit Morningstar.com. Live updates from the award announcement will be available on Twitter at http://www.twitter.com/MorningstarInc or through the hashtag, #MstarAwards.

Morningstar has granted annual awards to accomplished portfolio managers since 1988. The Morningstar Awards for Investing Excellence winners are chosen based on research and in-depth qualitative evaluation by Morningstar's manager research group. The full methodology for the awards is available here. For more information about Morningstar Awards, visit https://go.morningstar.com/Morningstar-Awards.

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 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 $244 billion in assets under advisement and management as of March 31, 2021. The Company has operations in 29 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on Twitter @MorningstarInc.

Morningstar's Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC. Morningstar's Manager Research Group produces various ratings including the Morningstar Analyst Rating and the Morningstar Quantitative Rating. The Morningstar Analyst Rating is derived from a qualitative assessment process performed by a manager research analyst, whereas the Morningstar Quantitative Rating uses a machine-learning model based on the decision-making processes of Morningstar's analysts, their past ratings decisions, and the data used to support those decisions. In both cases, the ratings are forward-looking assessments and include assumptions of future events, which may or may not occur or may differ significantly from what was assumed. The Morningstar Analyst Ratings and Morningstar Quantitative Ratings are statements of opinions, subject to change, are not to be considered as guarantees, and should not be used as the sole basis for investment decisions. This press release is for informational purposes only; references to securities should not be considered an offer or solicitation to buy or sell the securities.

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SOURCE Morningstar, Inc.

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