Morningstar International Fund Awards Methodology 2019 – Taiwan | Morningstar | TBA, Taipei, Taiwan

Statement of Purpose:

The objective of the quantitatively driven Morningstar International Fund Awards program is to recognise those funds and fund groups that have added the most value within the context of a relevant peer group for investors over the past year and over the longer-term. The program is distinct from the qualitative awards issued by Morningstar’s research team.

The awards are annual, so we believe it is appropriate to emphasise a fund’s one-year performance. However, we do not believe that it serves investors well to give awards to funds that have posted a strong one-year return, but have otherwise not delivered good results for investors.

The awards methodology therefore emphasises the one-year period, but funds must also have delivered strong three-year returns after adjusting for risk within the awards peer groups in order to obtain an award. Further, they must have been at least in the top half of their respective peer groups in at least two of the past three calendar years. We believe this combination will ensure that the awards are given to funds which have earned strong one-year results, and have also shown they have the ability to earn strong long-term returns without undue risk.

Morningstar Category Awards Methodology:

Categories Eligible for Awards

Equity:
• Asia-Pacific Equity (Asia ex Japan Equity, Asia-Pacific ex Japan Equity, Asia-Pacific inc. Japan Equity, Asia-Pacific ex-Japan Equity Income)
• Europe Equity (Includes all Europe Large Cap style categories, Europe Equity-Income and
Europe Flex Cap)
• Greater China Equity (Greater China Equity, China Equity, Hong Kong Equity)
• Taiwan Equity (Includes Large and Small/Mid-Cap categories)
• US Equity (Includes all US Large Cap style categories and US Flex Cap)

Fixed Interest:
• Global Bond