Data Dashboard Morningstar Global Fund Flows One-year growth rates in emerging markets such as Thailand are still higher than those of developed markets, but dropped significantly during the first quarter. Markets such as the U.S. and Canada have seen modest but more stable growth. > 3.3% Fast Growth < - 0.1% No Growth 3.29 to 0% Slow Growth Trailing 1-Year Organic Growth Rates by Country 03/31/2018 Finland -0.7% Russia 37.9% U.K. 6.0% Canada 5.1% Ireland 12.8% Germany 5.9% France 3.1% United States 3.5% Taiwan 6.7% Italy 3.2% Japan 11.2% Israel 8.8% India 13.5% Malaysia 14.4% Thailand 22.3% Brazil 4.1% New Zealand 5.8% South Africa 1.0% Australia 2.1% Chile 11.4% U.S. Open-End & ETF Fund Flows 03/31/2018 Equity Allocation Europe Open-End & ETF Fund Flows 03/31/2018 Fixed Income Equity Allocation Fixed Income $70B $50B 60 40 50 30 40 30 20 20 10 10 0 0 04/2017 06/2017 08/2017 10/2017 12/2017 02/2018 -10 04/2017 06/2017 08/2017 10/2017 12/2017 02/2018 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. 110 Morningstar June/July 2018 -10