Your health and safety is a priority for us.
 

Morningstar
Investment Conference

Explore new horizons for investors Sept. 22–24.

The 2021 Morningstar Investment Conference will be a hybrid event that reflects our gradual steps into a post-pandemic world. Sessions will be viewable online, and there will also be limited in-person attendance at McCormick Place. Join us in Chicago (from wherever you are) for research, insights, and analysis that can help you and your clients find long-term investing solutions for today’s new normal and the challenges of tomorrow.

The Morningstar Investment Conference is designed to help investing professionals recognize lessons from the past, understand what’s happening right now, and peek around the corner to see what’s next.

2021 Speakers

The conference brings together some of the financial industry’s top minds.

Rob Arnott

Research Affiliates

Rob Arnott is the founder and chairman of the board of Research Affiliates, a global asset manager dedicated to transforming the global investment community through its insights and products.

The firm creates investment strategies and tools based upon award-winning research and delivers these solutions in partnership with some of the world’s premier financial institutions.

Rob plays an active role in the firm’s research, portfolio management, product innovation, business strategy, and client-facing activities. With Chris Brightman, he is co-portfolio manager on the PIMCO All Asset and All Asset All Authority funds and the PIMCO RAE™ funds.

Over his career, Rob has endeavored to bridge the worlds of academic theorists and financial markets, challenging conventional wisdom and searching for solutions that add value for investors. He has pioneered several unconventional portfolio strategies that are now widely applied, including tactical asset allocation, global tactical asset allocation, tax-advantaged equity management, and the Fundamental Index™ approach to investing. His success in doing so has resulted in a reputation as one of the world’s most provocative practitioners and respected financial analysts.

John Bellows

Western Asset

Bellows, Ph.D., is a portfolio manager in Western Asset’s Pasadena, California, office, focusing on U.S. broad market strategies. In 2018, he took on an elevated role in the Global Portfolios Team, where he is a leading voice for U.S. and global macro strategies.

John is a member of the U.S. Broad Strategy Committee, which formulates domestic investment themes and strategies, as well as the Global Investment Strategy Committee, which is responsible for setting policy and providing strategic investment oversight for the firm. He joined the firm in 2012 as an investment management strategy analyst before assuming his current role.

Prior to joining Western Asset, John served at the U.S. Department of the Treasury as the acting assistant secretary for economic policy. Bellows holds a Bachelor of Arts in economics from Dartmouth College, where he graduated magna cum laude, and a doctorate in economics from the University of California, Berkeley. He is also a CFA® charterholder.

Walter Booker

MarketCounsel

Booker is the Chief Operating Officer of MarketCounsel, the premier business and regulatory consulting firm focused exclusively on the Registered Investment Advisor (RIA) sector, along with its affiliate, The Hamburger Law Firm. In this capacity, he leads all of the firm’s operations as well as coordinates the collaboration of the firm’s senior managers, among other responsibilities. Prior to joining MarketCounsel, Booker was a senior operating executive in both the institutional and individual investor sectors of the financial services industry, associated with firms like Ameriprise Financial Advisors, PaineWebber, and Salomon Brothers, as well as a consultant to for-profit and not-for profit organizations across their lifecycles.

Booker also contributes an abundance of impactful philanthropic leadership experience, especially as an active and influential leader and board member of several organizations in the financial services industry and in the broader community. For example, at present, he is a Trustee of the MarketCounsel Foundation, a board member of the AAAA Foundation and the Chairman Emeritus and a board member of Sponsors for Educational Opportunity (SEO), among numerous service commitments.

Booker is also a prolific, published author, speaker and subject matter expert. His articles and insights have been featured in publications and podcast series including The Wall Street Journal, The New York Times, Morningstar.com, LinkedIn, The Social Justice Investor, FinancialPlanning.com, WealthManagement.com, Between Now and Success and 2050 Trailblazers, and at industry conferences and colloquia like TD Ameritrade LINC, a Practising Law Institute (PLI) symposium on dually-registered broker-dealers and advisors, the MarketCounsel Summit and the Financial Planning Association (FPA) Annual Conference, among many others.

Booker is a graduate of Harvard College.

Bill Browder

Hermitage Capital Management

Browder, founder and CEO of Hermitage Capital Management, was the largest foreign investor in Russia until 2005, when he was denied entry to the country for exposing corruption in Russian state-owned companies.

In 2009, his Russian lawyer, Sergei Magnitsky, was killed in a Moscow prison after uncovering and exposing a USD 230 million fraud committed by Russian government officials. Browder has spent the last 10 years conducting a global campaign to impose visa bans and asset freezes on individual human rights abusers, particularly those who played a role in Magnitsky’s false arrest, torture, and death.

The United States was the first to impose these sanctions with the passage of the 2012 “Magnitsky Act.” A global Magnitsky Bill, which broadens the scope of the U.S. Magnitsky Act to human rights abusers around the world, was passed at the end of 2016. The United Kingdom passed a Magnitsky amendment in April 2017. Magnitsky legislation was passed in Estonia in December 2016, Canada in October 2017, and Lithuania in November 2017. Similar legislation is being developed in Australia, France, Denmark, Netherlands, South Africa, Sweden, and Ukraine.

In February 2015, Browder published The New York Times best-seller, Red Notice, which recounts his experience in Russia and his ongoing fight for justice for Sergei Magnitsky.

Sue Desmond-Hellmann

American oncologist

With a medical, scientific, and philanthropic career that spans more than 30 years, Desmond-Hellmann has devoted her life to improving the human condition through innovation. Most recently, she was the CEO of the Bill & Melinda Gates Foundation, leading the organization’s vision for a world where every person has the opportunity to live a healthy, productive life.

An innovator and leader in life sciences, Desmond-Hellmann’s diverse training as an oncologist, scientist, and business executive leads to her endless curiosity about the world and her desire to change it for the better.

Today she will share her unique insights not only on revolutionizing global health but also on effective and innovative leadership.

As CEO of the Gates Foundation for more than five years, Desmond-Hellmann led the organization’s 1,500 employees in its efforts to reduce inequity and combat infectious diseases around the world. Among many achievements, she oversaw the creation of the Gates Medical Research Institute – the world’s first nonprofit biotech organization – as well as the launch of the Economic Mobility and Opportunity investment strategy in the U.S.

Reflecting on Desmond-Hellmann’s tenure, Melinda Gates said, "Sue brought an incredible set of attributes to the foundation: scientific expertise, tested leadership skills, a passion for building a strong internal culture, and, above all, a dedication to the mission of making the world a healthier, more equal place." She is continuing her work with the foundation as a senior advisor and board member of the Bill & Melinda Gates Medical Research Institute.

Immediately prior to joining the foundation, Desmond-Hellmann was the first female and ninth overall chancellor of the University of California at San Francisco, overseeing all aspects of the university and medical center's strategy and operations. She had previously completed her oncologist clinical training at UCSF in the 1980s, both in the Bay Area and in Uganda, to work on the emerging HIV/AIDS epidemic and cancer. Desmond-Hellmann credits this as a turning point in her career – sparking her desire to make a difference.

Before UCSF, Desmond-Hellmann spent 14 years at biotech firm Genentech, where she served as president of product development. She led the development of a number of breakthrough medicines, including two of the first gene-targeted therapies for cancer, Avastin and Herceptin. Her time at Genentech put her at the forefront of the precision medicine revolution, championing the public health approach to save lives by bringing the right interventions to the right populations at the right time. For her groundbreaking work, Forbes named Desmond-Hellmann one of the world's seven most "powerful innovators," calling her "a hero to legions of cancer patients."

Among numerous accolades and awards, Desmond-Hellmann has been listed among Fortune’s "top 50 most powerful women in business," named to the NonProfit Times’ “Power and Influence Top 50” list, inducted into the American Academy of Arts and Sciences, and elected to the Institute of Medicine. Previously a member of the board of directors at both Facebook and Procter & Gamble, she now serves on the board of directors at Pfizer, is an advisor at GV (formerly Google Ventures), and remains an adjunct professor at UCSF.

Rianka Dorsainvil

2050 Wealth Partners

Dorsainvil, CFP® is the Co-Founder and Co-CEO of 2050 Wealth Partners a virtual, fee-only comprehensive financial planning firm dedicated to serving first-generation wealth-builders, entrepreneurs, and thriving professionals. Dorsainvil also hosts 2050 TrailBlazers, a podcast aimed to address the lack of diversity in the financial planning profession by engaging industry experts and leaders in conversation.

As a successful, millennial Certified Financial Planner professional, Dorsainvil offers a unique perspective not only on the current state of the financial service industry, but on how to stay relevant in an ever-changing world.

Dorsainvil serves as a member of CNBC's Digital Financial Advisor Council and CFP Board’s Diversity Advisory Group, is a Forbes Personal Finance Contributor, and has been recognized for her accomplishments and leadership within the industry by leading publications and organizations such as Investment News’ inaugural 2017 Women to Watch Rising Star and Wealth Management’s Ten to Watch in 2018. She has been published in PBS NewsHour, Forbes, USA Today, Black Enterprise, CNBC, Women’s Health, and more.

Megan Greene

Global economist

Global economist Megan Greene examines the intersection of macroeconomics, financial markets, and politics, providing insights and forecasts for our highly interconnected world economy.

Simplifying complex economic concepts into plain English, Greene combines her extensive background in policy and academia with C-suite leadership experience in financial services and investment management.

Greene currently serves as a senior fellow at the Mossavar-Rahmani Center for Business at Harvard Kennedy School, where she is working on a book examining the gaps between theory and reality in economics today and how they prevent us from addressing what she considers the most pressing economic, financial, political, and social issue of our time: inequality. She is the first Dame DeAnne Julius Senior Fellow in International Economics at Chatham House and also writes a biweekly column in The Financial Times on global macroeconomics and regularly appears on CNBC, Bloomberg, NPR, and BBC.

For more than five years, Greene was global chief economist at John Hancock/Manulife Asset Management, responsible for forecasting global macroeconomic trends and analyzing potential opportunities and impacts on the firm’s worldwide investments. Previously, she was founder and chief economist at London-based Maverick Intelligence, head of European economics at Roubini Global Economics, and the euro crisis expert at The Economist Intelligence Unit. A regular advisor to governments and central banks in the United States, United Kingdom, eurozone, and Japan, Greene currently serves in a number of other organizations. These include the board of directors of the National Association for Business Economists and The Parliamentary Budget Office in Ireland.

Greene is an affiliate of the Rhodes Center Brown University, a nonresident fellow at Trinity College Dublin, and a member of the Council on Foreign Relations. She holds a Bachelor of Arts from Princeton and a Master of Science from Oxford.

Kunal Kapoor

Morningstar

Kunal Kapoor, CFA, is chief executive officer of Morningstar. Before assuming his current role in 2017, he served as president, responsible for product development and innovation, sales and marketing, and driving strategic prioritization across the firm.

Since joining Morningstar in 1997 as a data analyst, Kapoor has held a variety of roles at the firm, including leadership positions in research and innovation. He served as director of mutual fund research and was part of the team that launched Morningstar Investment Services, Inc., before moving on to other roles including director of business strategy for international operations, and later, president and chief investment officer of Morningstar Investment Services. During his tenure, he has also led Morningstar.com® and the firm’s data business as well as its global products and client solutions group.

Kapoor holds a bachelor’s degree in economics and environmental policy from Monmouth College and a master’s degree in business administration from the University of Chicago Booth School of Business. He also holds the Chartered Financial Analyst® designation, is a member of the CFA Society of Chicago, and served on the board of PitchBook, a private firm that provides a comprehensive private equity and venture capital database, prior to its acquisition by Morningstar in late 2016. Kapoor is also a member of the board of trustees of The Nature Conservancy in Illinois. In 2010, Crain’s Chicago Business named him to its annual 40 Under 40 class, a list that includes professionals from a variety of industries who are contributing to Chicago’s business, civic, and philanthropic landscape.

Dennis Lynch

Morgan Stanley

Lynch is head of Counterpoint Global at Morgan Stanley Investment Management. He joined Morgan Stanley in 1998 and has 27 years of investment experience. Prior to joining the firm, he worked as a sell-side analyst for J.P. Morgan Securities. Lynch received a Bachelor of Arts in political science from Hamilton College and a Master of Business Administration with honors in finance from Columbia University.

Bill Nygren

Oakmark Funds

Bill Nygren has been a manager of the Oakmark Select Fund since 1996, Oakmark Fund since 2000, and the Oakmark Global Select Fund since 2006. He is also the chief investment officer for U.S. equities at Harris Associates, which he joined in 1983; he served as the firm's director of research from 1990 to 1998. Nygren has received many accolades during his investment career, including being named Morningstar's Domestic-Stock Fund Manager of the Year for 2001. He holds an Master of Science in finance from the University of Wisconsin's Applied Security Analysis Program (1981) and a Bachelor of Science in accounting from the University of Minnesota.

Mark Tibergien

Pathstone

Tibergien is a nationally recognized expert on management, strategy, and transition issues within the financial services industry.

He has led organizations from start-up to exit, from dynamic growth to turn-around. He has consulted with hundreds of financial services organizations in the United States, Australia, the United Kingdom, Europe, and Canada.

He currently serves as an independent director of Pathstone, a $20 billion multi-family office business and RIA. He is Chair of the Workforce Development Committee for the CFP Board Center for Financial Planning whose mission is to promote diversity in the advisory profession and financial planning as a career choice.

Most recently, Tibergien was CEO of Pershing Advisor Solutions LLC, an affiliate of The Bank of New York Mellon. Prior to joining Pershing, he was a Principal in the accounting and consulting firm, Moss Adams LLP, where he was head of the Business Consulting Group.

He is the author of four books published by Bloomberg Press/Wiley & Sons: Practice Made Perfect (2005) and How to Value, Buy or Sell a Financial Advisory Practice (2006); Practice (Made) More Perfect (2010) and The Enduring Advisory Firm (2016).

Tiffany Wilding

PIMCO

Wilding is an executive vice president and North American economist based in the Newport Beach, California, office. She leads PIMCO’s Cyclical Forum, crafts the firm’s outlook for the U.S. and Canadian economies and monetary policy, and analyzes key macro risks for the firm’s Investment Committee. She also co-heads the firm’s Americas portfolio committee.

Prior to joining Pimco in 2016, she was the head of global interest-rate research at Tudor Investment, responsible for recommending trade ideas based on global macro trends. Previously, she was a vice president for U.S. interest-rate research with Morgan Stanley and a Treasury market policy analyst for the Federal Reserve Bank of New York, where she helped structure and implement the central bank’s response to the 2008 financial crisis. She has 13 years of investment and economics/financial markets experience.

Wilding holds a masters in Business Administration in quantitative finance from New York University's Stern School of Business. She received an undergraduate degree from Rhodes College.

Catherine Wood

ARK Investment Management

Wood registered ARK Investment Management LLC as an investment advisor with the U.S. Securities and Exchange Commission in January 2014. Focused solely on disruptive innovation, ARK aims to identify large-scale investment opportunities in the public markets resulting from technological innovations centered around genome sequencing, robotics, artificial intelligence, energy storage, and blockchain technology.

Prior to ARK, Wood spent 12 years at AllianceBernstein as chief investment officer of Global Thematic Strategies, where she managed over $5 billion. Wood joined Alliance Capital from Tupelo Capital Management, a hedge fund she co-founded, which, in 2000, managed $800 million in global thematic strategies. Prior to her tenure at Tupelo Capital, she worked for 18 years with Jennison Associates as chief economist, equity research analyst, portfolio manager, and director. She started her career in Los Angeles at The Capital Group as an assistant economist.

In 2018, editors at Bloomberg acknowledged Wood by selecting her to its second annual Bloomberg 50 list of people across business, entertainment, finance, politics, technology, and science who have defined global business. Additionally, Fortune named Wood to its exclusive roundtable of experts in the annual “Fortune Investors Guide: The Best Investing Advice for 2019 From Fortune’s Experts.” In 2016, Wood received the “Women in Finance – Outstanding Contribution Award” from Market Media, and she was a featured speaker at the World Economic Forum (China) in 2016 and 2017 and the World Strategic Forum (Miami) in 2017.

Wood received her Bachelor of Science, summa cum laude, in finance and economics from the University of Southern California in 1981.

2020 U.S. Agenda

Keynote Sessions

From Wednesday, Sept. 16


Opening Remarks 
Kunal Kapoor, CEO Morningstar


The Role of Luck, Skill, and Counterintuition in Investing
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

Michael Mauboussin is an author, investor, and thinker who has published four thought-provoking, popular books including The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing and numerous notable research papers. In this session, Michael will take the best of his most impactful and recent research to provide the audience with decidedly unconventional perspectives on topics as diverse as incentives, the nature of the corporation, and the impact of behavioral biases on investing decisions and outcomes. He will also draw on his recent, timely paper, Dispersion and Alpha Conversion: How Dispersion Creates the Opportunity to Express Skill, in which he observes that skill can only be expressed in times of opportunity. 2020's stock market has offered an opportunity for those to express their skills.
Michael Mauboussin, Counterpoint Global, Morgan Stanley Investment Management


The Search for Yield in an Ultra-Low Interest-Rate World
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

This year’s markets have taken investors on a rollercoaster. In this macro-focused discussion, our panelists will share their outlooks for an eventual return to economic growth globally as well as inflation and interest rates. We’ll also discuss where there might still be pockets of value for bond investors even as long-term U.S. Treasury yields stand near historic lows.
Anne Mathias, Vanguard / Rick Rieder, BlackRock / Moderator: Sarah Bush, Morningstar
 


Fireside Chat With Kunal Kapoor and Sarah Newcomb 
Kunal Kapoor, CEO Morningstar / Sarah Newcomb, Morningstar


The Future of Advice
Future of Investing
A P P R O V E D   F O R   C E   C R E D I T

The panelists will explore key issues in independent investment advisory practices today, from business models and attracting new, younger clientele to dealing with ever-increasing personalization requirements and environmental, social, and governance considerations. They’ll also address the elephant in the room: the challenges of delivering advice in a time of unprecedented social, public health, and investment market turbulence.
Cathy Curtis, Curtis Financial Planning / Alan Moore, XY Planning Network / Don Phillips, Morningstar / Moderator: Christine Benz, Morningstar


An Inflection Point for Sustainable Investing. The Time Is Now.
A P P R O V E D   F O R   C E   C R E D I T

A global pandemic. Social unrest. Impactful investing in an uncertain world. Never has there been a timelier litmus test for sustainable investing. These issues have become part of the mainstream investment narrative, the industry is at an inflection point. Financial professionals have an opportunity to help investors of all kinds and in every region of the world as they begin to consider not only how ESG risks might affect their portfolios but also how their investments in companies, funds, and various sustainable finance instruments might result in positive societal and/or environmental outcomes. The time is now to turn fear into opportunity through proactive and impactful financial decision-making.
Michael Jantzi, Founder of Sustainalytics, a Morningstar company
 

From Thursday, Sept. 17


A Conversation With BlackRock’s Larry Fink 
Keynote
A P P R O V E D   F O R   C E   C R E D I T

BlackRock grabbed more than its share of headlines in 2019 when Larry Fink’s letter to America’s CEOs announced that the asset manager would become more actively involved in influencing its portfolio companies’ votes on matters related to climate change. While ESG is a key pillar of the firm’s strategy, BlackRock is relevant to independent investment advisors for many other reasons: What are the company’s plans in helping advisors to serve their clients? What can we expect in terms of model portfolio evolution? What role does so-called “smart beta” play in the firm’s strategy? We expect to address these questions as well as whatever other topics rise to the surface as market conditions ebb and flow over the summer.
Larry Fink, BlackRock / Moderator: Haywood Kelly, Morningstar


Where Do We Go From Here? 
Kunal Kapoor, CEO Morningstar


Sustainability & Investor Success
Future of Investing
A P P R O V E D   F O R   C E   C R E D I T

Morningstar’s mission is to empower investor success. It’s clear that incorporating ESG factors into our research and data is going to be critical to achieving that goal going forward, whether clients express the desire to build values-driven portfolios or not. In company analysis, what once were virtues may look more like vices today. For example, beneath Facebook’s strapping cash flows lay weak governance of objectionable content. The risk that advertisers and users may distance themselves from the platform is a risk to those robust cash flows that investors must consider, regardless of investor positions on issues such as first-amendment rights. In this session we’ll explain how we’re incorporating ESG risk analysis into our stocks and funds evaluation systems with both rigor and nuance. We’ll also cover the importance of public policy in framing opportunities and outcomes. Our intention is to enable advisors to use these new frameworks to communicate the sometimes complex and confounding world of ESG to their clients.
Haywood Kelly, Morningstar / Michael Jantzi, Sustainalytics / Simon MacMahon, Sustainalytics / Dan Rohr, Morningstar / Madison Sargis, Morningstar / Aron Szapiro, Morningstar / Hortense Bioy, Morningstar


Where to Turn When the Political Climate Heats Up
With the US presidential election just seven weeks away, advisors will be monitoring to the likely outcomes and what it will mean for investors’ futures. Amy Walter speaks with aplomb about the electoral process, congressional culture, and the Washington political scene as a whole. A familiar presence across the media spectrum, her range of topics and expertise provides an engaging, compelling presentation that keeps audiences riveted. Walter discusses not only electoral politics,  but the politics of policy, Washington’s dysfunction, and the people and strategies behind events unfolding in Congress and the White House.
Amy Walter, The Cook Political Report


International Equities: Moving Beyond a Lost Decade
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

While U.S. large-cap stocks enjoyed an exceptionally robust decade in the 2010s, international equities languished. This trend has continued through 2020’s volatile pandemic market. Will international equities shine in the 2020s or continue to disappoint? In this session, three portfolio managers will explore where the best ex-U.S. opportunities lie, whether in developed or emerging markets or small/mid-caps or large caps.
Rupal Bhansali, Ariel Investments / Rezo Kanovich, Artisan Partners / Rob Lovelace, Capital Group / Moderator: Kevin McDevitt, Morningstar

Breakout Sessions


Behavioral Science to Help Investors During Strange Times
Future of Investing
A P P R O V E D   F O R   C E   C R E D I T

Morningstar has undertaken a multiyear effort to understand the behavioral obstacles that investors face and to develop practical tools for the advisor. The need for this research has only grown since the coronavirus pandemic, market uncertainty, and economic crisis became realities. In this session, we will share our latest research and tools for advisors to handle the rapidly changing times, including:
–How to recognize the biases and emotions that hit investors in times like these
–Techniques we’ve tested during this pandemic specifically to help advisors manage these biases
–The emerging power of ESG, even during uncertain times. We will show how our research helps values-driven investors look beyond returns.
Samantha Lamas, Morningstar / Michael Leung, Morningstar / Steve Wendel, Morningstar

 


The World in 2030: Cannabis, 5G, EVs, Renewables, and Pharma
Active Investing

Investing directly in stocks in 2020 has been a high-wire act, demonstrating that it’s more important than ever to invest with a long-term perspective. In this session, senior stock analysts will share their long-term forecasts and recommendations for a select group of names that address four key themes in the coming decade: 5G, electric vehicles, renewables, and pharmaceuticals. The session will kick off with an overview of the prospects for the global economy given the great uncertainty created by the ongoing pandemic.
Karen Andersen, Morningstar / Preston Caldwell, Morningstar / Michael Hodel, Morningstar / Kristoffer Inton, Morningstar / Seth Goldstein, Morningstar / Travis Miller, Morningstar / Moderator: Susan Dziubinski, Morningstar
 


Dead Again? Value Managers Say Their Style Is Far From Over
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

Large value has been one of the most difficult factors to own since the end of the global financial crisis through the coronavirus crisis. More than 11 years on, it hasn’t gotten any easier for investors, as growth and core strategies have continued to trounce value, wounding the pride of many fundamental investors. Should you and your clients continue to stick it out?
Chuck Bath, Diamond Hill Capital Management / Ramona Persaud, Fidelity Investments / David Wallack, T. Rowe Price / Moderator: Linda Abu Mushrefova, Morningstar
 


Direct Indexing Is Neither Direct nor Indexing. Discuss.
Passive Investing
A P P R O V E D   F O R   C E   C R E D I T

Direct indexing is being heralded by many as the next big thing in the mass customization of investment portfolios. Both Fidelity (“Stocks by the Slice”) and Schwab (“Stock Slices”) have introduced fractional-share vehicles to address this emerging product category. The panel will discuss the pros and cons of this approach relative to more traditional methods of portfolio construction.
Jana Haines, MSCI / Jennifer Sireklove, Parametric / Patrick O'Shaughnessy, O'Shaughnessy Asset Management / Moderator: Ben Johnson, Morningstar
 


A High-Yield State of Mind
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

High-yield bonds have been on an impressive run in recent years, but the global search for yield keeps pushing prices higher. The COVID-19 crisis has only amplified the hunt for yield. Our panelists will share their thoughts on where value exists in the sector, how they’re managing the risks, and what the growth of the bank-loan market means for high-yield investors.
Bryan Krug, Artisan Funds / Harley Lank, Fidelity Investments / Elaine Stokes, Loomis Sayles and Co. / Moderator: Brian Moriarty, Morningstar
 


Up-and-Coming Small- and Mid-cap Portfolio Managers
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

Our manager research team has been publishing its semiannual Morningstar Prospects report for several years. Prospects are strategies that often graduate to full analyst coverage. At this session, we will look at small- and mid-cap strategies that may soon get called up to the big leagues.
Laird Bieger, Baron Capital / Mark Wynegar, Tributary Capital Management / Amy Zhang, Alger Funds / Moderator: Tony Thomas, Morningstar
 


Nontransparent Active ETFs
Passive Investing
A P P R O V E D   F O R   C E   C R E D I T

The SEC has approved a variety of new ETF formats that may open the doors to a flood of new active managers in the U.S. exchange-traded fund market. Panelists will explore the prospective benefits and drawbacks of these new vehicles.
Scott Livingston, T. Rowe Price / Dan McCabe, Precidian / Mark Roberts, Fidelity Investments / Moderator: Ben Johnson, Morningstar


Climate Change: How to Position Your Portfolio—and Your Practice
Future of Investing
A P P R O V E D   F O R   C E   C R E D I T

There is no doubt that climate-change considerations will impact portfolio construction in the future. In this panel, we will speak with portfolio managers about climate risk and opportunity: What are they, and how are they measured? We will also explore implications for portfolio strategies and how advisors can apply new thinking in this area to their practices, including how to communicate what’s ahead to clients.
Lucas White, GMO / Simon Webber, Schroders / Moderator: Hortense Bioy, Morningstar
 


Annuities: Past, Present, and Future
Rethinking Retirement
A P P R O V E D   F O R   C E   C R E D I T

Despite the noted potential benefits of annuitization, utilization remains relatively low. We’ve assembled a panel of industry experts to provide a variety of perspectives on the potential role of annuities today and how they are evolving to meet advisor demands.
Matt Carey, Blueprint Income / Kelli Hueler, Hueler Income Solutions / David Lau, DPL Financial Partners / Moderator: David Blanchett, Morningstar
 


Finding Opportunities in Muni Bonds
Active Investing
A P P R O V E D   F O R   C E   C R E D I T

Muni funds enjoyed record inflows for most of 2019, a reflection of growing client demand and swelling American wealth. While investors hit the exits in March 2020, they have since inched their way back into the asset class. We will probe a panel of leading managers about dipping back into Puerto Rico debt and explore other potential hotspots, such as the U.S. Virgin Islands, Chicago, and lifecare facilities.
Rob Amodeo, Western Asset Management / Susan Courtney, PGIM Investments / Jim Murphy, T. Rowe Price / Moderator: Elizabeth Foos, Morningstar


Reg BI, the SECURE Act & What’s Next for Regulation
Future of Investing

With the new provisions in the SECURE act, Regulation Best Interest, and a flurry of regulatory activity, advisors haven’t been more pressed to be current on regulatory developments in years. In this session, we will inform you not only about what you need to know now but also about what Morningstar thinks is coming the next few years, including the possible impacts of U.S. elections in the fall of 2020.
Lia Mitchell, Morningstar / Jasmin Sethi, Morningstar / Aron Szapiro, Morningstar
 


Investing Ideas From the Morningstar Wide Moat Focus Index
Active Investing

Morningstar’s equity research is perhaps best known for its assignment of Morningstar Economic Moat Ratings to the companies it covers: Wide, Narrow, and None. Equally important but less known is the importance of valuation in our assessments. The Morningstar Wide Moat Focus Index exemplifies the balance between sustainable competitive advantage and valuation in a way that is easier to understand than the concepts themselves in isolation. In this session, you will learn how companies find their way into the index and what triggers the algorithm to sell.
Andy Lane, Morningstar
 


Private Equity Is Coming to Wealth Platforms. Is That Good News?
Future of Investing
A P P R O V E D   F O R   C E   C R E D I T

While private equity has long been discussed as an attractive asset class to diversify investor portfolios, it still came as a surprise to some when Vanguard announced a partnership with HarbourVest in February 2020 to offer PE to wealthy individuals. In this session, Bethany McLean, former Fortune senior writer and co-author of the authoritative book on the Enron debacle, will moderate a group of panelists representing the pros and cons of the wisdom of introducing PE to retail investors.
Chadd Evans, Altera Investments / Fran Kinniry, Vanguard / John Rekenthaler, Morningstar / Moderator: Bethany McLean, Journalist


What Prior Market Crashes Teach Us About This One
Active Investing

Seasoned investing professionals know that market shocks are a feature of investment markets. While downturns are often anticipated, they never seem expected, except in retrospect. So, is the COVID-19 market sell-off (and rebound) different from previous market shocks? Not particularly—however, the panelists will discuss whether 2020’s sell-off may compel investors to rethink return distributions within financial models and will address why it seems that investors so easily forget extreme events that have happened regularly throughout history. Finally, the panelists will offer guidance on what financial coaches and advisors can do to ensure that investors stay the course.
Paul Kaplan, Morningstar / Larry Siegel, CFA Institute Research Foundation / Moderator: Ian Tam, Morningstar
 

Conference Classics


Stock-Picking Is Dead, Long Live Stock-Picking?
From 2015: We get back to basics with two of the mutual fund world’s pre-eminent stock-pickers, Bill Nygren and Steven Romick.
Bill Nygren, Oakmark Funds / Steven Romick, FPA Funds / Moderator: Jeff Ptak, Morningstar
 


Bottom-Up Stock-Picking in a Top-Down World
Bottom-Up Stock-Picking in a Top-Down WorldFrom 2016: In a market increasingly buffeted by macroeconomic crosswinds, here’s how some of the most well-regarded bottom-up, fundamental stock-pickers have been responding and adapting.
Dan O’Keefe, Artisan Partners / Meggan Walsh, Invesco / Keith Lee, Brown Capital Management / Moderator: Janet Yang, Morningstar
 


A Conversation with Melody Hobson, President, Ariel Investments
Her keynote address from the 2018 Morningstar Investment Conference.


The Wisdom of Crowds and the Fallibility of Markets
From 2019: A keynote from Daniel Needham, President & CIO, Morningstar Investment Management, LLC.
 


The Race of Our Lives: Accelerating Climate Damage Meets Accelerating Technological Progress
From 2018: Jeremy Grantham looks at investing through the lens of significant climate change.
Jeremy Grantham, GMO
 


The Psychology of Investing
From 2019: Morgan Housel describes how people think about risk, and investors can do about it to make better-informed decisions with our own money.
Morgan Housel, The Collaborative Fund
 


Changing Definitions of Equity Value
From 2019: What does value investing mean in 2019? And how does a company like Amazon find its way into “value” strategies?
David Giroux, T. Rowe Price / Jean Hynes, Wellington Management / Moderator: Katie Reichart, Morningstar
 


A Conversation With John Bogle, Founder, The Vanguard Group
A keynote conversation from the 2018 Morningstar Investment Conference-India.
 

Virtual Reality Experience

Get the best seat in the house with the Morningstar Investment Conference Virtual Reality Experience, which allows you to see the U.S. show from a brand-new perspective.

If you already own an Oculus Quest headset, our bring-your-own-headset VR pass is your ticket to a front-row seat for all of the U.S. conference’s sessions, alongside two sustainability-themed VR games, virtual sponsor booths, and more.

Once you sign up, we’ll send you instructions for downloading the Quest VR apps you need to join us in cyberspace. You’ll also get access to all of our 2020 digital events on your computer or mobile device, and the price is the same as a standard registration: $149. The VR experience is a product of Gatherings by Mesmerise.

Sponsorship Opportunities

Conference sponsorships let your firm join our lively conversation. Past sponsors know that the Morningstar Investment Conference is more than just a way to show off your logo—it’s a chance to connect with an engaged audience of decision-makers.

Meet our 2021 MICUS Sponsors


Principal Sponsor


Lead Sponsors

Meet our 2021 MICUS Sponsors


Principal Sponsor


Virtual Reality Sponsor


Lead Sponsors


Social Digital Hub Sponsor

Frequently Asked Questions

When and where is the Morningstar Investment Conference this year?
The Morningstar Investment Conference is a global digital event featuring eight investing conferences from around the world. It started Sept. 16 and ends Dec. 1.

What does “digital event” mean?
The digital Morningstar Investment Conference is an immersive online event that features all the key benefits you love about our flagship industry conference, bringing together industry leaders and investing experts to discuss the latest developments and share new perspectives on the market. All the U.S. sessions are now available to watch on demand until Dec. 1. Pace yourself or binge away—we won’t judge. 

What software is required to view the keynote speakers, panel discussions and interact with people?
The digital Morningstar Investment Conference is web-based, so all you need is a computer and an internet connection.   

How do get I access to the digital conference?
After you register, you’ll receive an email from Morningstar Events U.S. that contains the credentials needed for access. 

How much does registration cost?
$149 (USD). Registration includes access to additional all of our 2020 digital conferences. Access ends Dec. 1. 

Are continuing education credits being offered?
Yes. Attendees can earn up to 17 CE credits by attending the conference.  

How do I get my CE credits?
There are 17 CE-eligible sessions approved by NASBA and CFP, and we can also provide certificates for other designations after you finish watching the sessions. To get your credits, you need to attend each full session (your attendance will be time-stamped so we know you completed it). We’re tracking attendance for everyone who indicates interest in CE credits when they registered. Sessions approved for CE credits are labeled as such in the agenda on this page.
All of this content will be available on demand until Dec. 1.
If you already registered and aren’t sure if you indicated an interest in CE credits, send us an an email and we can check.  

Where can I find the agenda? 
You can see the full slate of U.S. sessions on this site. Just scroll up!

Now that the U.S. live conference is over, what’s the schedule for global events? 
South Africa: Oct. 1
Australia: Oct. 8–9
India: Nov. 3–4
Spain: Nov. 5
Italy: Nov. 10
U.K.: Nov. 16–17
France: Nov. 19

What is the cancellation policy? 
Since the live event has already taken place, no refunds will be given.

Still have questions? Reach out to our team.