Data Dashboard Morningstar Global Fund Flows Emerging markets saw significant growth over the past year, with India, Malaysia, and Thailand showing growth rates of more than 25%. Russia grew 60.7%. Most developed markets showed single-digit growth; the U.S. lagged behind at 4.3%. > 3.3% Fast Growth < - 0.1% No Growth 3.29 to 0% Slow Growth Trailing 1-Year Organic Growth Rates by Country 11/30/2017 Finland 3.1% Russia 60.7% U.K. 8.1% Canada 5.7% Ireland 20.4% Germany 8.0% France 7.6% United States 4.3% Taiwan 2.8% Italy 4.4% Japan 10.5% Israel 11.6% India 26.9% Malaysia 27.8% Thailand 33.6% Brazil 8.2% New Zealand 7.3% South Africa 4.7% Australia 2.8% Chile 14.8% U.S. Open-End & ETF Fund Flows 11/30/2017 Europe Open-End & ETF Fund Flows 11/30/2017 pEquity pEquity 12/2016 pAllocation 02/2017 pFixed Income 04/2017 06/2017 08/2017 10/2017 pAllocation pFixed Income 45 USD Bil 40 USD Bil 30 30 15 20 0 10 -15 12/2016 02/2017 04/2017 06/2017 08/2017 10/2017 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 February/March 2018 0