Originally posted Jun. 13, 2024

Morningstar will update the methodology for the Morningstar Style Box^TM starting with month-end August 2024 portfolios.

In our mission to help investors determine a fund's investment style and have a tool to measure their style exposure, we are modifying the Morningstar Style Box to explicitly make the central tendency of each style box peer group a neutral one. We are accomplishing this by using a market capitalization-weighted average in the z-score that is part of the style score calculation.

Overall, the structure and output for the Morningstar Style Box will remain the same. Due to the calculation change, clients will see a shift in style scores starting with month-end August 2024 portfolios and, in some cases, category assignments as of month-end November 2024, most notably for large-cap US funds.

As such, Morningstar products and data feeds that contain the Morningstar Style Box and its associated style score data points will reflect these updated values and placements effective with month-end August 2024 portfolios.

Clients should be aware of this change, and if they process the Morningstar Style Box or style score from the below Morningstar Equity API Center data catalogs, they should prepare to adjust these items as needed.

• Style Box
• Proprietary Data Snapshot

See the attached FAQ for additional details and contact Morningstar Support with any further questions or needs.

Originally posted May 14, 2024

Updated Jul. 23, 2024 with new retirement date

On Dec. 15, 2024, Morningstar will retire CUSIP International Numbers (CINS) from Morningstar Managed Investment and Global Equity Data Feeds due to a lack of maintained source data for these identifiers.

Please note that this retirement does not impact CUSIPs. This update is only for markets utilizing the CINS as an international version of CUSIP issued by CUSIP Global Services for securities without a CUSIP. Morningstar Data Feeds currently provides both CUSIP and CINS in the CUSIP data point, depending on the identifier availability.

The attached~40k active share classes with CINS assigned will automatically have their CINS removed after Dec. 15, 2024. If clients are licensed and entitled to CUSIP data and utilizing CINS for an identifier in the below feeds and packages, we recommend using ISIN instead as the standard identifier.

• Global Equity Data Feeds: Morningstar Global Equity Data Feeds will remove CINS from the Reference data feed for Security (Share Class) data and the CUSIP data point (DataId 1006).

Contact Morningstar Support with any additional questions or needs.