Data Dashboard Morningstar Global Fund Flows Developed markets continued to show modest growth through May. The U.S., the U.K, and Canada had one-year growth rates under 5%; Ireland had an atypically high 15% rate. Emerging markets such as India, Thailand, and Malaysia were in the lead. > 3.3% Fast Growth 3.29 to 0% Slow Growth < - 0.1% No Growth Trailing 1-Year Organic Growth Rates by Country 05/31/2017 Finland 9.2% U.K. 2.2% Canada 4.7% Lithuania 22.4% Germany 6.2% Ireland 15.3% United States 3.1% Taiwan -3.6% Italy 3.5% Japan 12.3% Israel 4.6% India 29.4% Malaysia 23.2% Thailand 33.1% Brazil 5.4% New Zealand 5.6% South Africa 5.6% Australia 2.4% Chile 3.4% U.S. Open-End & ETF Fund Flows 05/31/2017 Europe Open-End & ETF Fund Flows 05/31/2017 p Equity p Allocation p Fixed Income p Equity p Allocation p Fixed Income 06/2016 08/2016 10/2016 12/2016 02/2017 04/2017 50 USD Bil 40 USD Bil 25 20 0 0 -25 06/2016 08/2016 10/2016 12/2016 02/2017 04/2017 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 August/September 2017 -20