Global Sustainable Fund Flows Q1 2020

Hortense Bioy, CFA, is global director of sustainability research for Morningstar UK Ltd, a wholly owned subsidiary of Morningstar, Inc. Based in London, Bioy leads Morningstar's environmental, social, and governance research efforts globally, with the objective of educating investors and providing them with the tools they need to evaluate funds through an ESG lens. Prior to assuming this role in February 2021, she was responsible for Morningstar's sustainability research in EMEA for three years.

Before transitioning to a dedicated ESG focus, Bioy was European director of passive strategies research. She led an award-winning team that provides research on exchange-traded funds and index funds. Bioy joined Morningstar as an ETF analyst in 2010 from Bloomberg, where she was a financial journalist. She began her career as a mergers and acquisitions analyst at Société Générale in Hong Kong.

Bioy holds a master's degree in finance from Paris Dauphine University and a postgraduate degree in finance from Paris-Sorbonne University. She also holds the Chartered Financial Analyst® designation.

Elizabeth Stuart is an analyst for Morningstar UK Ltd, a wholly owned subsidiary of Morningstar, Inc. She covers environmental, social, and governance and sustainability research.

Before joining Morningstar in 2019, Stuart worked in corporate sustainability, specialising in corporate social responsibility and carbon reduction strategies. She also worked for the United Nations World Food Programme, researching climate resilience and gender equality.

Stuart holds a bachelor's degree in earth sciences from Trinity College Dublin's School of Natural Sciences. She also holds a master's degree in environmental technology from Imperial College London's Centre for Environmental Policy.