Morningstar appoints new CFO, reports 37.5% growth in Indexes assets

By Bobby Samwell • Saturday, February 01 10:23 • Permanent Link

Morningstar Inc. has released its responses to selected investor questions received through December 31, 2024. The company has appointed Michael Holt as its new CFO, who has a track record of managing high-performing teams and driving results. Morningstar Indexes' assets linked to and tracking Morningstar Indexes totaled $228.2 billion as of September 30, 2024, marking an increase of 37.5% over the prior-year period. Approximately 70% of these assets are in exchange-traded funds (ETFs). Morningstar also shared thoughts on how the recent U.S. Federal elections are expected to impact its businesses, including PitchBook, Credit, and Sustainalytics.

Additionally, the company addressed its capital structure, noting that it has the option of paying interest based on the applicable Secured Overnight Financing Rate (SOFR) plus a margin or the lender base rate plus a margin. Morningstar also explained its insider trading policy, allowing shareholders flexibility in financial planning without reliance on selling shares, and provided details on its license-based revenue model across different segments, such as PitchBook, Morningstar Data and Analytics, Morningstar Sustainalytics, Morningstar Wealth, Morningstar Retirement, and Morningstar Credit. The market has reacted to these announcements by moving the company's shares -0.6% to a price of $328.64. If you want to know more, read the company's complete 8-K report here.

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