Morningstar Advisor - June/July 2010 - 8

Contributors

Josh Charlson

Senior mutual fund analyst Josh Charlson (“Different Models, Similar Results,” Page 24) has been involved in Morningstar’s research on target-date funds from nearly the get-go. Charlson helped develop the methodology and design for the Morningstar Target Date Fund Series Ratings and Research Reports, launched in September. He is also a coauthor of Morningstar’s annual survey of the target-date industry and is the lead analyst on seven target-date series. “Target-date funds are a potentially fantastic investment concept,” Charlson says, “but they are also remarkably complex and at times opaque vehicles. Even if advisors might not choose to recommend them on their own, they will find that their clients have exposure to target-date funds in their 401(k)s and other retirement plans.” Charlson also profiles advisor Carl Dockery (“Preparing for Turbulence,” Page 21).

Executive Editor Jerry Kerns Managing Editor Ryun Patterson Editor-at-Large Don Phillips Contributing Editors Dan Culloton, Paul Justice, Haywood Kelly Contributors Karin Anderson, Michael Breen, Josh Charlson, Paul D. Kaplan, Laura Lallos, Jim Licato, Sonya Morris, Preethi Parmar, Carl Richards, Sam Savage, Miriam Sjoblom Data Editors Preethi Parmar, Alina Tarlea Proofreader Jennifer Gierat Art Director Teofila Arellano Associate Art Director Alexander Skoirchet Production Designer Summer Bornman Illustrator Mark Smith Photographer Todd Anderson Publisher Jill Jacobs-Baar Marketing Director Leslie Banks Circulation Manager Dawn Rescigno Media Services Engineer Brian Schuneman Director of Advertising Sales Mary Uribe Regional Sales Directors Dan Atkinson, Tony Lignelli, Kristina Niemi, Stuart Roge Morningstar, Inc.

Miriam Sjoblom

When Morningstar mutual fund analyst Miriam Sjoblom sees the billions of dollars pouring into bond funds (“The Game Is Up,” Page 30), she wonders what it’s going to take to turn the spigot off. “Yields across bond sectors are near their all-time lows,” she says, “and rising yields could eat away what income there is, or even cause losses in the short term.” She warns that if investors are counting on bonds repeating the past decade’s returns, they’re betting against the odds. “And if you focus only on the risks of the past downturn—credit and liquidity—you could be blindsided by a threat that has lain dormant for years: interest-rate risk.”

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Mark Smith

Mark Smith, this issue’s illustrator, says that financial topics are among his favorite to illustrate because he is so unfamiliar with them. This lack of familiarity means that his interpretation and the artwork he comes up with are often different from the literal meaning of the article. “This difference leaves room for the reader to create a meaning that neither text nor image could create alone,” says Smith, who lives and works in Exeter, England. “These type of commissions are always fun to work on and make my job the best job imaginable.”

60602. An annual subscription for delivery in the U.S. is $60. All exhibit data in this magazine is provided by Morningstar and Ibbotson Associates unless otherwise noted. © 2010 Morningstar. All Rights Reserved. The information contained herein: (1) is intended solely for informational purposes; (2) is proprietary to Morningstar and/or its content providers; (3) may not be copied or distributed; (4) is not warranted to be accurate, complete, or timely; and (5) does not constitute investment advice of any kind. 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 of future results. “Morningstar” and the Morningstar logo are registered marks of Morningstar, Inc. Disclosure: Morningstar licenses its indexes to certain providers, including Blackrock Institutional Trust Company, N.A., First Trust, and Deutsche Bank, for use in exchange-traded funds and exchange-traded notes. These ETFs and ETNs are not sponsored, endorsed, issued, or sold by Morningstar. Morningstar does not make any representation regarding the advisability of investing in ETFs and ETNs that are based on Morningstar indexes.

Morningstar Advisor June/July 2010

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Morningstar Advisor - June/July 2010

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