Morningstar 4.7.4 User manual

Morningstar
®
Workstation 4.7.4
User Manual
Version 1.4
December 2010
©2010 Morningstar, Inc. All rights reserved.

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ABLE OF CON EN S
General Information..................................................................................................................6
Accessing Morningstar Workstation............................................................................................. 7
LaunchPad.................................................................................................................................7
SmartFind .................................................................................................................................... 8
Finding a fund.......................................................................................................................... 8
Selecting a fund....................................................................................................................... 8
Using your fund selection – Reports...................................................................................... 1
Using your fund selection – Charts........................................................................................ 1
Using your fund selection – Factsheet................................................................................... 11
System Update .......................................................................................................................... 11
Updating manually................................................................................................................. 12
Updating automatically .......................................................................................................... 12
Pausing an automatic update ................................................................................................ 12
Auto-update settings.............................................................................................................. 12
Download settings................................................................................................................. 13
Run report macros................................................................................................................. 13
System copy.......................................................................................................................... 13
Email confirmation................................................................................................................. 14
System Details........................................................................................................................... 14
Contact Morningstar .................................................................................................................. 15
Reports ................................................................................................................................... 16
To Create a Report.................................................................................................................... 16
Tree Selection............................................................................................................................ 17
Selecting a Class of Fund...................................................................................................... 17
Removing a Selection............................................................................................................ 17
Report benchmarks ................................................................................................................... 18
Auto Add Indices ................................................................................................................... 19
Identify the Sector to Which a Fund Belongs............................................................................. 19
To View the Content of Sector(s) in the Tree Selection ............................................................. 2
Report Screen............................................................................................................................ 2
To Edit your Tree Selection ....................................................................................................... 21
To Select Performance Criteria.................................................................................................. 22
Date Selection ........................................................................................................................... 22
Dates tab............................................................................................................................... 22
Regular Periods tab............................................................................................................... 23
Charges, Income and Currency Settings................................................................................... 24
Scheme Type Selection............................................................................................................. 25
Scheme types:....................................................................................................................... 25
Report Facilities..................................................................................................................... 26
Supplementary Data.................................................................................................................. 26

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List lookup ............................................................................................................................. 26
Sub Column Data ...................................................................................................................... 27
Sorting Report Data................................................................................................................... 29
Filtering Report Data.................................................................................................................. 3
To Filter Funds ...................................................................................................................... 3
To Regain Funds................................................................................................................... 3
Filters Criteria on Print out..................................................................................................... 3
Report Indices............................................................................................................................ 31
Sector Statistics......................................................................................................................... 31
Collapsing Sectors into a Global Display ................................................................................... 32
Display Grouping................................................................................................................... 32
Rank Grouping ...................................................................................................................... 33
Report Headers and Footers ..................................................................................................... 35
Hiding columns in a report ......................................................................................................... 35
Formatting your Report Sheet.................................................................................................... 37
Colour Schemes.................................................................................................................... 37
Style ...................................................................................................................................... 38
Right-click on Rows Pop-up Menu............................................................................................. 39
Highlighting Funds................................................................................................................. 4
Fund Facts ............................................................................................................................ 41
Sector Chart .......................................................................................................................... 42
Index/Movement/Portfolio Size Line Charts........................................................................... 43
Creating/Adding to a Composite from the Reports module ................................................... 44
Return Sheet (Excel) ............................................................................................................. 44
Assign Benchmark to this Fund............................................................................................. 45
Right-Click on Columns Pop-up Menu....................................................................................... 46
Scatter Charts ....................................................................................................................... 47
Fund Comparison Module ..................................................................................................... 48
Market Share......................................................................................................................... 49
MPT Statistics Sheet (Excel)................................................................................................. 52
Copy Options............................................................................................................................. 53
Export to Excel........................................................................................................................... 54
Web Links to Excel .................................................................................................................... 55
Mouse over function .................................................................................................................. 55
Find in Column........................................................................................................................... 56
Report Templates ...................................................................................................................... 57
Morningstar Workstation Standard Reports Templates ......................................................... 57
User-defined Report Templates ............................................................................................ 57
Saving a Report......................................................................................................................... 58
Opening a Saved Report....................................................................................................... 58
Printing a Report........................................................................................................................ 59
Load at Start-Up ........................................................................................................................ 6
Macros ................................................................................................................................... 61
To Create a Macro..................................................................................................................... 61
Runtime Date Substitutions ....................................................................................................... 63
Monthly reports macros......................................................................................................... 63

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Daily or Weekly macros......................................................................................................... 63
To Edit a Macro ......................................................................................................................... 64
To Delete a Report from a Macro .............................................................................................. 65
To Delete a Macro ..................................................................................................................... 65
Private Lists ........................................................................................................................... 66
Exporting a Fund Selection to a Private List .............................................................................. 67
Chart Deck.............................................................................................................................. 68
To Create a Chart...................................................................................................................... 68
Fund Selection ...................................................................................................................... 68
Fund Selection from a Private List......................................................................................... 69
Adding a Benchmark ............................................................................................................. 69
Reordering the Fund Selection.............................................................................................. 69
Calculation Settings............................................................................................................... 69
Style ...................................................................................................................................... 7
Dividends............................................................................................................................... 71
Date Settings......................................................................................................................... 71
Line Chart Settings................................................................................................................ 71
Scatter Chart Settings ........................................................................................................... 72
Format Settings..................................................................................................................... 73
Text Settings ......................................................................................................................... 74
Zoom Functionality................................................................................................................ 75
Additional Formatting Options ............................................................................................... 75
Saving a chart............................................................................................................................ 75
Export Options....................................................................................................................... 75
AutoUpdate ........................................................................................................................... 76
Embedding a ChartDeck Image into Other Documents ............................................................. 76
Chart Batching........................................................................................................................... 78
Create a Batch ...................................................................................................................... 78
Modify a Batch....................................................................................................................... 79
Private Funds ......................................................................................................................... 80
Inserting New Funds.................................................................................................................. 8
Manually Entering Data.............................................................................................................. 8
Static Data Fields .................................................................................................................. 8
Drop-down menu fields.......................................................................................................... 81
Historical Data Fields............................................................................................................. 82
Committing Private Fund data To the Database........................................................................ 83
Deleting Funds and Data ........................................................................................................... 83
Deleting data ......................................................................................................................... 83
Deleting a fund ...................................................................................................................... 83
Editing Data ............................................................................................................................... 84
Static data ............................................................................................................................. 84
Historical data........................................................................................................................ 84
Backing Up Data........................................................................................................................ 84
Restoring Data........................................................................................................................... 84

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Importing Data into Private Funds – File Format ....................................................................... 84
Sorting ....................................................................................................................................... 87
Filtering...................................................................................................................................... 87
Comments field.......................................................................................................................... 87
Entering a Comment.............................................................................................................. 87
Viewing a Comment .............................................................................................................. 87
Removing a Comment........................................................................................................... 88
Exporting to Excel...................................................................................................................... 88
Final Note .................................................................................................................................. 88
Composite module ................................................................................................................. 89
Creating a Composite................................................................................................................ 89
Composite Settings ............................................................................................................... 89
Funds Settings ...................................................................................................................... 9
Return Sheet.............................................................................................................................. 91
Correlation Matrix ...................................................................................................................... 92
Index Line Charts....................................................................................................................... 93
Scatter Chart.............................................................................................................................. 94
Exporting to Excel...................................................................................................................... 96
Document Library................................................................................................................... 97

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General Information
Workstation is an all-inclusive desktop resource for professionals researc ing, analysing or
marketing funds. Wit t e flexibility to let users define t eir own analysis parameters and
incorporate private data into performance calculations, it provides a compre ensive toolkit for t e
calculation, benc marking, and external presentation of fund performance information.
Workstation covers 190,000 funds and 15,000 indices t roug a tiered classification structure t at
incorporates t e Morningstar Global Investment Fund Sectors system. 85 currencies and more t an
85 calculation options, a range of language options and proprietary data to assess t e performance
and quality of market-leading funds.
•Reports: Performance tables: multiple funds/sectors over any c osen time periods, wit
rankings.
•Charts : Create powerful custom made c arts for funds and indices w ic can t en be
embedded into MS office documents and auto updated following data updates.
•Private Funds: Write your own price data into t e database.
•Composites: Create your own composites for use in Reports and C arts

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Accessing Morningstar Workstation
Morningstar Workstation modules may be accessed by t e Desktop icon or from t e Windows
Start menu, All Programs, Morningstar Workstation.
LaunchPad
A centralised user area from w ic you can:
•Launc all Morningstar Workstation modules: Reports, ChartDeck, Composites, Private
Funds and Document Library
•Quickly find a fund and trigger any related workstation task using t e SmartFind tool
•View t e latest product news
•Set up your system update preferences and manually trigger updates
•View your system status
•Carry out a number of support related tasks
•View t e ot er users accessing t e system & number of available licences.

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SmartFind
Allows you to quickly navigate to a fund, index or currency and trigger a number of commonly used
Workstation tasks based on your selection. T is is accessible from t e Home section of t e
Launc pad.
Finding a fund
Start typing in t e searc box to begin your searc . Hovering over a fund in t e results window
displays additional information to elp make your selection.
4 searc tabs are available:
•Name – searc for funds, indices and currencies by name. Partial word searc es are
accepted. T e matc ing results displayed in t e results window will narrow as you type in
more words. You can also searc by full SPID code to return t e name.
•ISIN - searc via a partial or full ISIN code.
•My Data - searc by name for any private fund or composite created and saved on t e
database.
•My Files - searc by filename for any saved report or c art. (Note: If your file is not listed
you will need to select its folder location using t e link. T is folder location will t en be
stored for future reference).
Selecting a fund
Once you ave found your c osen fund click on it to select it. If t e fund selected is registered for
sale in more t an one market you will be asked to select a peer group from t e sub listing.

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You can access your previous searc es from t e drop down arrow. Furt er guidance notes are
available online via t e “?” icon.
Once you ave selected a fund t ree icons – Reports, Charts & Factsheet become activated
allowing you to utilise your selection wit in t e Workstation modules.

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Using your fund selection – Reports
Clicking on t e Reports icon enables a report utilising your fund selection to be quickly created.
Firstly, select t e peer group you wis to report against from t e following options:
•his fund – just s ow t is one fund in t e report.
•his fund and benchmarks – compares t is fund against its benc marks. Depending on
your fund selection t is may include up to 3 benc marks:
oUser Defined – t is is t e benc mark you ave selected for t e fund. T is can be
set in reports.
oGroup selected – t is is a predefined benc mark for t e fund selected by t e
Management Group.
oPeer Group Average – t e sector average.
•his funds GIF sector (Global Investments Funds sector) – compare t is fund against
t ose in t e same general sector e.g. Equity Europe.
•his funds category – compare t is fund against t ose in t e same Morningstar category.
•he funds local sector - compare t is fund against t ose in t e local market sectorisation
e.g. IMA, ABI
•his funds area sector – compare t is fund against funds t ose in t e same geograp ic
location e.g. France.
•his funds management group – compare t is fund against t ose in t e same
management group.
•his funds main sector – compare t is fund against t ose in t e same primary asset
class e.g. equity.
•his funds specialist sector – compare t is fund against t ose in t e same area wit t e
same investment nature. E.g. Gold & Precious Metals, Et ical, Healt care/P armaceutical,
etc.
Once a peer group is defined t en t e columns of t e report need to be c osen from t e 3
predefined options:
•Standard columns – base your report columns from a number of predefined templates
•Copy from rpt – base your report columns on an existing saved report. You will be asked
to browse to t e report t at you wis to replicate.
•I’ll pick my own – bring up a report wit just your fund selection. T e report columns can
t en be defined wit in t e reports module.
Using your fund selection – Charts
Clicking on t e C arts icon will quickly plot a c art from your quick find selection. Clicking on
t e icon you will be asked to select from t e following options:
•Price – plots a movement (raw data) c art for t e fund selected based on your c osen
time period (1 year/ 3 years/ 5 years/ 10 years). All ot er c art settings will be in
accordance to your default settings in C artDeck.

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•Index – plots an index c art (rebased to a common value) for t e fund selected based on
your c osen time period (1 year/ 3 years/ 5 years/ 10 years). All ot er c art settings will be
in accordance to your default settings in C artDeck.
•Scatter – plots a scatter c art of t e fund. You will be asked to define t e peer group to
compare against and t e analysis period.
•Sector Bar Chart – plots a floating bar c art allowing comparison of your c osen funds
performance against a selected peer group. All ot er c art settings will be based on your
default settings in reports.
Using your fund selection – Factsheet
Clicking on t e Facts eet icon will allow you to quickly access a Workstation Fund report.
System Update
S ows t e latest information regarding your system update status and settings. Any pending
updates will be listed.
Clicking on t e Refresh button will update your updates pending list. W en t ere are no updates
pending t e time till t e next update is due will be displayed.

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Updating manually
By selecting t e option Update Manually your system will run data updates only w en triggered
by a user wit update permissions.
To run a manual update simply click on t e Run All button. S ould you not wis to update your
system to t e latest date select t e update you want to update to and click Run Selected.
NB: Even if you are set to update automatically you can run any pending update manually.
Updating automatically
By selecting t e option Update Automatically your system (if logged on) will run all outstanding
updates to a predefined sc edule. T e sc eduler options are:
•When Ready – t is will c eck eac our. (T is appens in t e background, if t ere are no
updates to run t ere will not be any interruptions to your system usage).
•Sunday 1am – t e update will run all available updates at Sunday 1am. T is update
sc edule is recommended for most markets.
•Sunday and Wednesday at 1am – t e update will run at Sunday and Wednesday 1am.
T is sc edule is designed wit t e availability of Frenc prices in mind.
•Custom – t is will launc Windows sc eduler in order for you to derive your own custom
sc edule.
Pausing an automatic update
If t e automatic sc eduler is triggered and t ere is an update
available to run a 5 minute countdown commences.
S ould you wis to pause t e update select from one of t e
options available in t e download.
Auto-update settings
Click t e arrow adjacent to AutoUpdate Settings to s ow t e settings window. T ese settings
can only be edited by users wit update permissions.

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Download settings
T e default setting is ON, t e folder location default to t e Updates subfolder wit in your
Workstation directory.
T is feature s ould only be turned OFF if an IT department downloads update files separately w ic
are subsequently collected from a different network location and run by t e updating user.
Clicking on t e spanner icon gives access to update all download related settings suc as download
passwords and proxy settings.
Run report macros
T is function will automatically run any report macros following a successful update. Use t e folder
icon to browse to t e macro file(s) you wis to run.
System copy
To use t e System Copy function, you must first click on t e corresponding folder to set t e
network location to copy to. For elp wit System Copy please contact your local Support team.

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Email confirmation
T is function will trigger an email to a defined distribution list following an update, indicating
w et er it was successful or not. Set t is up by clicking on t e spanner icon.
System Details
T e System Details section olds details of your subscription. T e System Support section
allows you to view and carry out a number of support related tasks.
•Software Version – t is will indicate w et er you ave t e latest system software
installed (“up to date”), or not (“prior version”).
•Software Integrity – t is will indicate if t ere is an issue wit t e integrity of your system
software. Any issues found will be listed by clicking on t e Details button.
•Apply Software Updates – T is controls w et er or not you apply software updates via
t e update mec anism. T e default option is ON.
•Restore Database – T is will download and extract t e latest database. You may c oose
to run t is if your system is very out of date or w en prompted by Support to fix an issue
wit your database integrity.
•Refresh Software - T is will download t e latest software package. You may run t is to
update your software version to t e latest available, or w en prompted to do so to fix an
issue wit your software integrity.
•System Audit – Support may ask you to run t is to elp diagnose support issues.

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• Re-index System – T is will recreate a number of index files used to aid t e searc
functions wit in t e Workstation system.
Contact Morningstar
T e contact details of all Support departments are available ere.

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Reports
o Create a Report
From t e LaunchPad click once on t e Reports icon to launc t is section
From t e Menu bar select File – New or click on t e new report icon
A Fund/Index Selection dialogue box appears w ic contains 3 main sections:
Section 1: displays a series of symbols, w ic allow a c oice of different ways to select
funds/sectors (Class, General, Area etc.)
Section 2: displays a list of items according to t e symbol selected in Section 1.
Section 3: displays t e yellow Funds Selection folder.
W en you first open t is dialogue box t e Class symbol is ig lig ted in Section 1 and t e available
fund databases (classes of fund) are s own in Section 2.
Section 1
Section 2
Section 3
Lookup tool for searc ing & selecting
funds, indices and currencies

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ree Selection
Selecting a Class of Fund
Click on t e Class symbol in Section 1 of t e dialogue box, c oose t e class/database required from
Section 2 using one of t e following met ods:
•Double-click on t e required class or module (it automatically attac es to t e yellow folder
in t e Fund/index Selection tree in Section 3).
•Rig t-click wit t e mouse on t e selection required (it automatically attac es to t e yellow
folder in t e Fund/Index Selection tree in Section 3).
•Click and drag your selection across to t e rig t frame (it automatically attac es to t e
yellow folder in t e Fund/Index Selection tree in Section 3).
NB: Selecting only a class/database presents in a report t e entire fund content of t at
database. E.g.: 2500+ Unit Trusts.
Removing a Selection
•Drag and drop unwanted selection(s) into t e bin.
•Use t e oolbar Icon to undo last selection attac ed.
•Hig lig t your selection in t e rig t frame and press DELETE on your keyboard.
Click on t e OK button once your selection is complete.
Funds in t e selected sectors are listed alp abetically in a report s eet.
Section 1: Description
Click to ig lig t t e Class symbol (results displayed in Section 2 of t e Fund/Index Selection
dialogue box).
Class
Displays t e fund modules available: Unit Trust, Offs ore and International Funds, etc.
NB: In most cases you must make a class selection initially
Selecting one Class alone gives you t e entire Class selection e.g.: all 3200+ Unit Trusts. To refine
your selection use t e following met ods:
According to t e Class selected, t e General Sector selection represents t e GIFs (Global

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General Investment Funds sectors), e.g. Equity Europe.
NB: for Unit Trusts/OEICs, you will find local industry sectors under General and GIFs
under 2
nd
General
Category
T is selection presents a classification of t e funds from t e selected Class according to
t e Morningstar Categories.
Full GIF
Full GIF (Global Investment Funds sectors) is as per General but includes all s are classes
of a fund.
2
nd
General
2nd General Sectors is t e place older for Local sectorisation w ere applicable for any
given jurisdiction. Local sectors reflect local market official sectorisation mandated by t at
markets fund governing body1
Manager
According to t e Class of fund selected, displays a list of all t e Management Groups w o
manage funds wit in t ose classes. For any group(s) selected, provides list of all t eir
funds.
Or To refine your selection, use t e following options: (Morningstar Workstation Sector
classification)
Area
T is selection presents a list of geograp ical areas allowing you to c oose specifically
w ic investment locations you require. E.g. France, Germany, United States of America.
Main
To refine your selection furt er, you can specify w ic type(s) of fund you wis to view in
t e locations you ave c osen. E.g. Equity, Fixed Income, etc (main stream sectors).
Specialist
As a furt er refinement you can ask for funds, in t e locations c osen, wit a specialist
investment nature. E.g. Gold & Precious Metals, Et ical, Healt care/P armaceutical, etc.
You can also make fund selections using:
Priv. Lists
T is selection allows you to access your own lists of funds t at can be created in t e
Private List Editor.
Domicile
View funds by Domicile. E.g. Bermuda, Scotland, etc.
Report benchmarks
1
In certain instances the 2
nd
General (Local) Sectors are placed in the General section and the GIF
sectorisation in the 2
nd
General section – US Mutuals and UK Unit Trusts

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If you want to attac benc marks/indices to any sectors selected, click on t e following symbol
from Section 1 of t e dialogue box:
Fund/Index
T is option allows you to select any individual funds/indices from t e database and attac
t em as benc marks to t e classes/sectors you ave c osen. It also displays w ic
class/sector/area a fund belongs to.
T e Lookup text box towards t e top of t e dialogue box is activated. Type t e SPID or ISIN code
or use t e Lookup facility to find t e required fund/index. Attac it to t e relevant sector in t e
selection tree: ig lig t t e relevant sector first t en double-click on t e index to be attac ed or
drag and drop t e index on t e relevant sector.
Auto Add Indices
W en t e auto assign indices button is active you can use t is feature to automatically assign
general and 2
nd
general indices to t e tree.
T is feature is not active in t e following scenarios:
•T ere are no “General Sectors” on t e Tree
•None of t e “General Sectors” on t e Tree ave applicable benc marks available
•All of t e “General Sectors” on t e Tree, already ave applicable benc marks attac ed
Identify the Sector to Which a Fund Belongs
To identify a fund’s sector classification use t e Fund/Index Selection dialogue box as described
above. Use t e Lookup facility to find t e fund; click once to ig lig t it and its classification
appears in t e status bar at bottom of t e dialogue box.
General Sector Area Sector Main Sector Specialist Sector

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o View the Content of Sector(s) in the ree Selection
Double-click on any sector attac ed to t e tree and a dialogue box appears s owing t e contents of
t e sector; t us you can c eck t e presence of particular fund(s) in t e c osen sector(s) before
continuing.
Once classes/sectors, etc., ave been selected, click on OK.
Eac individual sector appears on a separate report s eet. (No performance data s own).
Report Screen
•o View Funds – Use t e scroll bar adjacent to t e fund area of your report s eet or
keyboard PgUp/PgDn keys.
•o View Sectors – Eac sector selected for viewing in a report is s own on a separate
page. From t e Menu bar select Report – Go to Sector or click on t e oolbar Icon
.
Or use t e buttons on t e rig t- and edge of t e report s eet:
Go to first sector
One sector up
One sector down
Go to last sector
•Indices and Sector statistics – T ese areas also ave t eir own scroll bars.
•Fund Count – If you ave Count s owing as one of your Sector Statistics at t e bottom
of t e report, t is number represents t e number of funds w ic give a performance return
in t e sector on view over t e given time period..
On t e bottom rig t- and side of t e status bar are 2 number boxes
Represents t e total number of funds in
t e report, including indices
Represents t e total number of funds in
t e sector on vie
w, including indices
(after filtering).