Data Dashboard Morningstar Global Fund Flows Growth rates in developed markets continued to lag those in emerging markets over the past year. The U.S. had one of the more modest growth rates, 4.9%. Chile led with a growth rate of more than 75%, and Russia remained one of the leaders, with growth of more than 60%. > 3.3% Fast Growth 3.29 to 0% Slow Growth < - 0.1% No Growth Trailing 1-Year Organic Growth Rates by Country 01/31/2018 Finland -0.7% Russia 60.6% U.K. 9.0% Canada 5.9% Ireland 20.1% Germany 8.2% France 6.4% United States 4.9% Taiwan 5.4% Italy 4.5% Japan 12.3% Israel 14.0% India 20.2% Malaysia 25.9% Thailand 35.3% Brazil 6.3% New Zealand 5.8% South Africa 3.4% Australia 5.9% Chile 76.1% U.S. Open-End & ETF Fund Flows 01/31/2018 Equity 02/2017 Allocation 04/2017 Europe Open-End & ETF Fund Flows 01/31/2018 Fixed Income 06/2017 08/2017 Equity 10/2017 12/2017 Allocation Fixed Income 80 USD Bil 50 USD Bil 60 40 40 30 20 20 0 10 -20 02/2017 04/2017 06/2017 08/2017 10/2017 12/2017 Money market and fund of funds are excluded when appropriate. Alternatives and commodities funds are not included. U.S. data is survivorship-bias free. In the broad asset class tables, equity includes U.S. stock, international, and sector fund flows. Organic growth rates are calculated using beginning period asset levels and subsequent net fund flows. 78 Morningstar April/May 2018 0