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M O R N I N G S T A R P U B L I S H I N G S Y S T E M

U S E R I N T E R F A C E G U I D E

1 7 T H M A Y 2 0 1 3

Morningstar Europe Ltd. of 21

Introduction

This guide will walk the user through the key functions available to users of the Morningstar Publishing System.

The guide is divided into four main parts:

Firstly a brief overview of the interface

Secondly detailing the steps involved in the initial setup of a solution

Thirdly dealing with maintenance activities for a solution

Finally detailing the recurring production run processes

This document is not to be used in place of training on the system, that should always be done between a

Morningstar representative and the user directly. This document should be used as a post training reference.

Brief Interface Overview

Menu Summary

The figure to the right shows some of the key items in the Morningstar Publishing

System (MPS) platform menu. Below, find a description of some of the levels.

Institutions – Entitled ‘ZZ Demo’ in this example, your company name

will be displayed here

Solutions – Create solutions for different divisions or types of products

Universes – Contains groups of funds and the tools to maintain the data

Reports – Create reports and set up production runs

Templates – Lists the templates available for your reports

Books – Contains the settings associated with the production of collated

books of your produced documents

Labels – Manage and edit the static data labels for reports

Email Templates – Create email templates that will be used to distribute

links to the documents

Distribution Lists – Create email distribution lists for specific occurences

Image Library – Update company logo

Archieve – Showing you a full set of historically signed off documents for

you to review

Audit Trail – This enables you to review all changes made to the data

sets and reports within your solutions

Role Definitions

Within the Morningstar Publishing System, a variety of unique roles are in place to ensure the process is as

seamless and secure as possible. Users can have multiple roles, and below is a brief description of the

responsibilties of each.

Reader – Management role to check progress with read only access

Label Editor – Role responsible for creating and updating labels

Data Editor – Role responsible for editing data - has the ability to do translations, read and update data,

and read reports.


Sub Editor – Role responsible for getting productions ready – has the ability to do translations, edit and

reload data, create new productions runs, update report parameters, and create and update distribution

lists. Responsible for producing documents, and marking documents as being ready for sign off

Interim Editor – Role responsible for an interim sign off - has the ability to do translations and read data

and reports. (various levels of this stage could exist).

Editor – Has the ability to edit data, update templates and universe securities, subscribe to alerts, sign

off documents, and publish/distribute PDFs

Reviewer – Has the ability to read data and subscribe to alerts. Responsible for signing off documents

and publishing/distributing PDFs

Super Editor – Morningstar role – cannot sign off documents by default

Initial Solutions Set-Up

During the implentation phase, a variety of procedures are undergone either by or with the help of a Morningstar Project Manager (PM). These actions, deemed initial set-up procedures, need be completed only once, although some are able to be altered/redone later. This section details the initial set up procedures, first listing those which are completed soley by the PM and then discussing those completed by the client with the assistance of the PM.

Morningstar Project Manager Responsibilities

The Morningstar Project Manager (PM) will setup the initial solution with the client following on-going discussions regarding their requirements. Depending on those requirements, this solution will include the creation of the institution, solution, cutsom universe(s), and email template.

Institutions

The Morningstar PM will create the Institution for the Client and is the only individual permitted to do so.

The Institution is effectively the Client name and therefore, once this is setup, it need not be completed

again for that Client. Selecting this from the left-hand menu will display high-level information such as the

Client’s Name (Institution Name) and the Morningstar office that is handling the project.

Solutions

The Morningstar PM will create the Solution for the Client and is the only individual permitted to do so.

The Solution is effectively the product type (ex: KIID).

Custom Universe

In order to create Reports, a universe must be defined and setup within MPS. The universe will reflect

the group of funds being reported on. They can be separated according to different categories (i.e.

equity, bond, etcetera). A universe is where all the data that the Report is derived from is stored,

viewable and editable. During the original implementation, the Morningstar PM will work alongside the

Client to define the universe. By selecting ‘Universes’ on the left-hand menu, each of the universes that

have been created for the solution will be displayed. In the future, the Universe only needs to be

maintained by adding or removing funds as the client views fit.

Email Template

An email template is the customized email format that can be fit with firm-specific branding. This will be

the email that is sent out to contacts on the Distribution List when the document is published. The


screenshot below shows the standard email template. The PM is the only one capable of creating an

email template.

This guide will now detail other initial procedures, specifically those that the user partakes in with the help of the Morningstar PM.

Labels

The ‘Labels’ tab on the MPS platform menu allows the user to create and manage static data labels and headings.

This only need be set up once during the implementation of the project, and the default labels will be pre-loaded.

The user can change these labels (if desired) using the ‘Export to Excel’ and ‘Import Labels,’ or ‘Add New Label’

functions. These buttons are located in the gray bar at the top of the screen.

Export to Excel

‘Export to Excel’ allows the user to export the label data into an Excel document. As seen below, the workbook is

easy to navigate, and all information is located on the first tab.


Import Labels

The import labels button is for when the user wishes to edit/maintain label data through Microsoft Excel. To

import, select ‘Import Labels’ from the top gray bar. Choose the Excel file to upload, and select the ‘Upload’

button. The user will preview the data first (see below), and then may import it into the system by selecting the

‘Import’ button. Because the spreadsheet template that is imported must be consistent with the format used

when exporting data, the simplest way to import custom label data from excel is to first export the standard

labels, edit in Excel, then import the edited workbook.

Add New Label

Another method of customizing labels is to use the add a new label key, which can be achieved by selecting ‘Add

New Label’ from the top bar on the ‘Labels’ screen. The figure below shows the box into which the new label key

can be entered:


Once saved, the new label key will appear with a row of blank spaces under each language to be filled. To eliminate a new label key, simply click ‘Delete,’ which can be found to the right of the last language column for each label key.

Image Library

During the initial implementation, the Morningstar PM will assist the Client in adding the company logo to be

displayed in the upper right hand corner of the KIID report, as per the screenshot attached below:

This logo is stored in the image library. At a later stage, if the client wishes to change the logo, simply use the

image library to upload the new image.

Translation Integration

Clients who have contracted with Peter & Clark have the ability to use a translation function within the data

section. If you are interested in automating translation with another service provider, please contact your client

relationship manager. While translation occurs after the initial set up in that it requires text data to be translated,

the translated fields are usually only translated once, thus ly the translation should be an initial and one-time

event.

Firstly, all text data needs to be filled in for the base language of the funds (see the directions on editing data in

the later recurring activities section). In the example shown, the base language is English and text data has been

filled in for the Fund Information, Further Information and the Investment Policy fields, respecitvely. Once data is

entered, click the ‘Save’ button to store the new inputs. Notice that the boxes change from red to blue.


Select the funds that have data to be translated, and click the ‘Send data to be translated’ button. The user will be

prompted to choose which data points should be translated, as well the translation langauge(s). A new

translation project can be submitted by filling in all the required fields, or a translation project that has not yet

been submitted can be modified by selecting the project from the drop down box.

When the translation project has been added, data can be previewed before submitting it to the translator. Click

the ‘Submit’ button, then click ‘OK’ from the pop-up window to submit the translation project. The status of

project will change from ‘New’ to ‘Submitted,’ and a Translator Reference ID will appear once the project has

been submitted for translation.

When the project has been received for translation, the project status changes to ‘In Progress.’

When the translation is complete, the translated data will be sent back to Morningstar and the user will receive

an email notification to be alerted that the data has returned. The project status changes from ‘In Progress’ to


‘Returned,’ the translated data will be displayed in pink, and the column labels will include ‘Translated.’

To accept the translation and add it to the live data, choose the individual boxes to integrate into the live data or

select the entire fund, click the ‘Accept’ button, then select ‘OK.’

Create Report

For most clients, a report will be created during the initial set-up. Production runs will be done on a regular basis

using the initially created report, but with updated data each time. This is not to say new reports can never be

created; if later on after the initial set-up the user decides that another report is needed, and simple characteristic

alterations to the existing report won’t do, the process explained below can be repeated.

To create a new report, first select ‘Reports’ on the MPS menu. Next, click ‘Create Report’ in the gray bar at the

top of the screen.

Next, select the proper report type from the drop down menu (KIID for KIID reports) and enter a report name.

Select the appropriate universe, language, and currency, and then select the ‘Create Report’ box.


Notifications

As an MPS user, there are a variety of alerts you can receive. While you can change which alerts you receive at

any time, initially you and the Morningstar PM will subscribe you to the alerts you wish to receive. Below the

different notifications options and their respective subscription processes are detailed.

Document Change Email Notifications

As a user of MPS, you can receive an email notification when a document goes to a certain status. To set up an

alert, select the appropriate report, and go to the Alerts tab. This tab allows you to choose to be subscribed when

a document changes to any of the listed document statuses. Select the document status to receive an alert by

clicking on it – multiple statuses can be selected by holding down the ‘Ctrl’ key while clicking. Save selections by

clicking the ‘Save’ button. To unsubscribe, return to the Alerts tab, and click on the desired document status that

was previously selected.

SRRI and Material Changes Notifications

According to UCITS regulation, a new KIID must be issued every year. In addition, a new document needs to be

published if a material change occurs in the fund’s profile, which includes a change in the published SRRI. The

Morningstar process for classifying an SRRI as changed from the previously published figure is as follows:

Morningstar measures the SRRI on a weekly basis for a trailing period of 16 weeks. If, during one of these

weeks, the fund’s SRRI number matches the published value, then no material change has occurred.

Conversely, if none of the SRRI values of the previous 16 weeks match the published value, then a material

change has occurred and a new KIID must be created.


For example, if the published value is 5 and, over the trailing 16-week period, at least one week has a matching

value of 5, then no new action is required. However, if none of the trailing 16 weeks has an SRRI number equal to

5, then regulation requires a new KIID be published with the updated rating. In such a case, Morningstar

recommends that the mode (the most frequently occurring number) of the 16 week period be used as the new

SRRI value.

Note: the SRRI rating will only be monitored for change if a KIID is published for the relevant fund.

Subscribing to Alerts

Due to the significance of being aware of a material change in SRRI, the Morningstar KIID Publishing System

allows users to receive an alert, both in-system and via email, when this type of situation occurs.

In order to subscribe to this alert system, select the ‘Subscribe’ tab in the left menu under the desired universe.

From there, check the box next to the relevant funds (or select the first box to ‘Select All’) and choose the

‘Subscribe’ box located in the lower right area of the screen. Should alerts be triggered for multiple funds in the

same week, the user will only receive one email update, which will include each alert.

Once a user is subscribed, he or she will receive an alert via email if a material change, as defined above, occurs

in the SRRI rating.

Distribution List

Distribution lists allow users to have emails sent to a relevant list of email addresses to alert them that a

document has been published. To create a distribution list, select ‘Distribution List’ in the left hand menu, then

‘Create Distribution List’ in the gray box at the top of the screen. Next, enter a distribution list name and select a

template from the dropdown list.

After the distribution list has been created, enter the email addresses and names of the users that should be

included in the distribution, and click the ‘Add Record’ link to add the user to the list. Also, contacts can be

uploaded through an Excel import. To do this, select the ‘Import’ tab within the selected distribution list on the left

menu, choose the appropriate file and click ‘Upload.’


Use the following filter options to send out reports to the list based on the following criteria:

Language – Send email when any documents in the specified language across multiple reports are

published

ISIN – Send email when a single document or a subset of documents based on the ISIN identifier

becomes published

Report ID – Send email when all documents of an entire production run are published

Country of Sale – Send email when all documents based on the country of sale datapoint across multiple

reports are published

Security ID – Send email when single document or a subset of documents based on the internal

Morningstar identifier becomes published

Note that the list’s filters use ‘AND’ logic—for example, using the language filter to include “Language is English”

and “Language is German” would result in no documents being distributed, as it is not possible for a document to

have both attributes.

Under the ‘Distribution Status’ tab on the selected distribution list, the user can view information about each time

the document was sent out to the distribution list. This is a capability not limited to the initial implentation phase.

This information can be filtered using the ‘Filter’ criteria above the tab. In addition, the user may select a document

to resend to the distribution list by clicking the box to the left of the Sec ID, and choose ‘Resend’ at the bottom of

the screen.

Add filter

Remove filter


To the right of the ‘Distribution Status’ tab is the ‘Click Log’ tab. This tab enables the tracking of which users have accessed the document in the system via the email sent out to the distribution list. Similar to the ‘Distribution Status’ tab, the user can use the ‘Filter’ criteria to navigate the list.

Maintenance Activites

There are a variety of actions in MPS that do not occur (for most users) on a regular basis/for every production

run. These are deemed maintenance procedures and are detailed below, with the procedures controled soley by

the Morningstar PM discussed first.

Morningstar Project Manager Responsibilities

Email Template Changes

Any changes the client wishes to have made to an email template must be performed by a Morningstar

Project Manager. Please contact your PM in such an event.

Universe Characteristic Alterations

While the initial solution includes the creation of any required customized universes, sometimes certain

characteristics of the universe need to be changed. The characteristic alterations explained below are

controled by a Morningstar PM; if the user wishes for them to be altered please contact the appropriate

Morningstar PM.

I. Universe Name - The name of the universe being created.

II. Universe Type - Standard or KIID.

III. Languages - The languages that a Client wishes to produce their Reports in

IV. End Year* - Determines the 10-year period of back-dated data to be used from

the

calendar year end period( ex: for a KIID Report with ‘2011’ selected

as End Year, the last 10 years performance data would be used i.e.

2011 to 2002. This can be validated by viewing the Edit Data screen


which should show columns for Annual Performance from 2011 to

2002. Continuing with this example, once a new year is completed,

the Edit Data screen would update to show Annual Performance

from 2012 to 2003).

V. Default Language - The default viewing language for the ‘Edit Data’ screen.

VI. Data Points - The fields shown in the universe that the report draws upon.

*Important Note: This feature is KIID specific. Also, for future KIID Report production runs, the End Year

will need to be updated to the last full completed year (ex: For the 2013 January KIID Report production

run, 2012 will need to be selected as the End Year).

Adding New Users

All parties need to sign up for membership on the Morningstar website in order to use MPS. The URL is:

https://www.morningstar.co.uk/uk/membership/signup.aspx.

Once all parties have signed up please confirm the email addresses used to sign up so that the Morningstar PM

can register each individual's email address. After this is completed you will be asked to login and out of the MPS,

URL:

http://mps.morningstar.com

Once all parties have confirmed logging in and out of MPS, the Morningstar PM will then assign their roles as

required.

Universe Constiuent Alterations

Once a universe has been created, you can manage the custom fields within the universe by selecting the

‘Manage Securities’ from the left-hand menu or by selecting ‘Manage Securities’ located in the right-hand side of

the gray bar at the top of the screen. This will display the following page from which you can add or remove funds

from the universe. Note that it has a maximum showing capacity of 20 funds per page, so you may need to page

down to view all securities.

https://www.morningstar.co.uk/uk/membership/signup.aspx

http://mps.morningstar.com/


Add Funds

If the user wishes to add funds, there are three methods from which to choose:

I. ‘Add Securities’ Button

Allows the user to search for securities by name, Sec ID or ISIN and then add.

II. ‘Edit as Text’ Button

Allows the user to add securities by manually inputting Sec IDs.

III. ‘Look up ISINs’ Button

Asks the user to input ISINs, and then presents an Excel spreadsheet with the ISINs, Sec

IDs, Legal Names, Currency IDs and Exchange IDs of the indicated funds so that the Sec

ID(s) can be used going forward to add the fund(s) using one of the previous two methods.

The ISIN number isn’t as unique as a Morningstar Sec ID so this function assures that the

right fund is added.

Remove Funds

If the user wishes to remove funds, check the box next to the specific security and then clck the

‘Remove Selected’ button.

Report Characteristic Alterations

From the report screen, the tabs ‘Parameters’, ‘Template’ and ‘Universe Filters’ are available. Selecting these tabs

and making the changes described below allows for the report to be altered accordingly.

Parameters

The ‘Parameters’ tab allows the user to specify the universe, language and currency for a particular

report. Make selections using the dropdowns, then click on ‘Save.’ Note that changing any parameters

after data has been inputted for the report will cause all Morningstar data for the report to be cleared.


Template

The ‘Template’ tab allows the user to select the template for the report. This can take the form of either

the Morningstar default template or a custom template, uploaded by the Project Manager. Choose from

the drop down, then click ‘Save’ to select the report template.

Universe Filters

The ‘Universe Filters’ tab allows users to limit the securities for the report. Like the filters found on the

Distribution List page, note that the filters use ‘AND’ logic—for example, using the language filter to

include ‘Currency is GBP’ and ‘Currency is USD’ would result in no documents being included, as no

document contains both attributes. Add or remove filters by using the buttons found to the right, then

click the ‘Save’ button when finished.

Alert Changes

If the user wishes to change what alerts are received, go into the report affected and select the ‘Alerts’ tab.

Either select a different status for notification or unsubscribe and then click the ‘Save’ button to save changes.

Remember, multiple statuses can be selected by holding down the ‘Ctrl’ key when clicking.

If you wish to subscribe to alterts, see the section entitled “Notifications” on page ten of this guide.

Distribution List Changes

If the user wishes to make alterations to the distribution list after it has been created, first select ‘Distribution List’

in the left hand menu. Next, select the distribution list to be altered. Users can be deleted or edited from the list

using the ‘Delete’ or ‘Edit’ links to the right of the user’s name. Filter options can be changed using the ‘x’ and ‘+’

signs highlighted in the screenshot below.

Add filter

Remove filter


Remember that the filters use ‘AND’ logic, which was explained under the distribution list section earlier in this

guide.

Recurring Activities

For most MPS users, the following actions be undertaken on a regular basis as part of the production run process.

The processes for regular MPS report productions rus are very similar for KIID prodcution runs, however there are

a few differences which will be discussed below, highlighted by an asterick *.

Data Editing

After the user has defined the universe and added the relevant funds, the recurring process of creating production

runs begins. To start, select the ‘Edit Data’ tab on the left menu to open the Custom Data page. The screenshot

below is an example of what this page should look like (screenshot 1.1). Data will be displayed by fund.

Figure 1.1

* For KIID production runs, the data will be displayed by fund using a color-coded system. Morningstar data will

appear in a white box, boxes missing data will be red, and boxes with overridden data will be blue. This is shown

in screenshot 1.2.

Add filter

Remove filter


Figure 1.2

To change the field names that are displayed, click the gray circle that is located in the first column above the

column of checkbox buttons. When clicked, a dropdown appears, and unselecting a field will remove it from view.

There are several ways to edit data - a user may elect to reload the Morningstar database, use Morningstar data

and override specific data points, or input data manually.

Editing Data Using the Morningstar Database

If the user wishes to use Morningstar data, he/she can either reload the entire Morningstar database or

select and override specific data points. To reload the entire database, click the ‘Reload All M* Data’

button; it will load the database’s values for all the displayed funds. In order to use Morningstar’s

database data for only certain funds, check the checkbox of those funds and then hit the ‘Reload

Selected M* Data’ button.

*You will note that in KIID reports, there will be a status column that shows when data is being updated

or reloaded. A time stamp of the last reload will be displayed when the mouse is hovered over the

‘Reloaded’ status.

Manually Editing Data

The other method of editing data is to use excel workbooks to manage custom data. It is recommended

that the user first export the data into excel, edit data in the properly formatted workbook and then

import said workbook because the spreadsheet template must be consistent with the format used when

exporting data to work.

Compare data


Export Data

To export all of the universe’s data into an Excel document, select ‘Export’ on the left menu under the

appropriate universe. Select the applicable languages and currencies and click the ‘Export’ button below

when ready.

As seen below, the exported data is in a very simple workbook to navigate. Displayed on the first tab is

all data that is not language dependent, such as risk and performance figures. The other tabs show

language specific data points.

Import Data

When managing data through Microsoft Excel, the user may first delete columns and rows from the

workbook as necessary until the only data left is that which is to be imported. This will help users avoid

overwriting data that has been custom inputted.

To import, select ‘Import’ on the left menu under the appropriate universe. Choose the Excel file to

upload and select the ‘Upload’ box. First it will preview the data (see below), and then the user may

import it into the system by selecting the ‘Import’ button at the bottom.


Production Runs

After a report has been created (see section ‘Create Report’ on page nine) or altered to the desired state (see

section ‘Report Characteristic Alterations’ on page sixteen), and data has been edited (see above), the user is

ready to move onto producing the documents.

To begin a production run, open the ‘Production Runs’ tab and click the ‘Start New Production Run’ button. Enter a

name for the run on the screen that opens, and then select ‘Create.’

To select the new production run, click on ‘Latest Production Run’ from the left MPS menu under the appropriate

report, or click on the name of the new report under the ‘Production Runs’ tab. This brings the user to a page that

displays a status report of each fund in the current production run. The user can filter the funds displayed on this

page by using the search box to specify Name, ISIN, or SecID. The user can also use the drop box on the right to

filter by status and have reports displayed based on their current production stage.


As seen above, the Current Production Run page allows the user to select an action to take with regard to the

document by either using the buttons along the bottom of the screen, or selecting an option from the ‘Action’ drop

down menu. The following is a brief description of the actions that can be taken, depending on the user’s role.

Produce – Creates a PDF of fund information based on inputted data

Document Ready for Sign Off (optional) – Advances document to be checked and signed off

Sign Off – Indicates that document is ready for publication

Exclude – Excludes document from any action to be taken at the current time- for example, a document

with a status of ‘Exclude’ would not be altered if the ‘Produce All’ or other buttons related to all other

documents was selected.

Needs Attention – Indicates that document requires further review and/or editing

Publish and Distribute – Publishes document into archive and sends out to recipients (see ‘Distribution

Lists’ sections on pages eleven and sixteen to create or alter distribution lists)

Selecting the ‘Produce All,’ ‘Sign Off All,’ or ‘Publish All’ buttons will result in the chosen action being applied to all

documents listed in the production run, except for documents that have been marked as ‘Exclude.’ The ‘Export All’

button will download a PDF copy of all documents in the run, excluding those with statuses of ‘Need Attention’ or

‘Exclude.’

Selecting a fund name will bring the user to a page that displays the selected document in PDF form. If everything

appears as it should, select the ‘Sign Off’ or ‘Produce Document’ buttons. Use the ‘Next’ and ‘Previous’ buttons to

navigate between documents. To edit data, select the ‘Edit Data’ button, make the desired changes, and click

‘Save.’ Click the ‘Back’ button from the top gray bar to return to the report view. Finally, click ‘Refresh’ to include

the newly edited data in the report preview.


Managing Alerts

As previously discussed, KIID users will receive SRRI and Material change alerts according to the subscription

status chosen (see page 10). In the event that an alert is received, the user has a couple of options for managing

the alert.

Under the ‘Alerts’ tab on the left menu, users are able to manage the alerts that have been received. To display

other types of alerts (‘All,’ ‘Ignored,’ ‘Actioned,’ ‘Overridden,’ ‘Not Actioned’), click the drop down menu labeled

‘Status’ and select the desired category. The default category is ‘New’ alerts.

When new alerts are available, there are three options for users to pursue. First, the user may select the fund(s)

and then click ‘Apply Recommended Value,’ located just under the search bar. This will update the SRRI value to

the recommended value (which can be seen in the table). Second, the user can choose to override the

recommended value and choose another rating. Doing this requires the user to select the fund(s), click ‘Override’

and enter the desired value. Finally, the user may elect to ignore the alert. To do this, one must select the fund(s)

and click the ‘Ignore’ box just under the search bar. The user will then be prompted to input a reason why the alert

was ignored.

Should an alert be issued in consecutive weeks for the same fund, the user will receive another notification email

and the alert will be displayed in the ‘New’ alerts tab. The old alert, then, will be shifted to the status of ‘Non-

Actioned’ and can be viewed in the respective tab.

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