Data Dashboard Morningstar Global Fund Flows Most markets, including the U.S., showed moderate growth over the past year. Inflows surged in Thailand, however, while Indonesia suffered a big dip. > 3.3% Fast Growth < - 0.1% No Growth 3.29 to 0% Slow Growth Trailing 1-Year Organic Growth Rates by Country 11/30/2019 Finland 3.8% Ireland 11.8% Germany 2.8% France -3.3% United States 3.2% Russia 12.7% Netherlands 6.5% U.K. -1.6% Canada 5.8% Japan 9.3% Turkey 41.7% Italy -5.8% Mexico 9.6% South Korea 1.4% Israel 5.1% India 6.0% Hong Kong 0.4% Thailand 5.2% Brazil 3.0% Indonesia -17.0% South Africa 3.6% New Zealand 4.5% Australia 3.9% Chile 14.6% U.S. Open-End & ETF Fund Flows 11/30/2019 Equity Allocation Europe Open-End & ETF Fund Flows 11/30/2019 Equity Fixed Income Allocation Fixed Income $60B $60B 45 30 30 0 15 0 -30 -15 12/2018 02/2019 04/2019 06/2019 08/2019 10/2019 -60 12/2018 02/2019 04/2019 06/2019 08/2019 10/2019 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 Q1 2020 -30