The 2024 winner sits at the helm of JPMorgan Equity Income Fund, which earns a Morningstar Medalist Rating of Silver

Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment insights, today announced the winner of the 2024 U.S. Morningstar Awards for Investing Excellence “Outstanding Portfolio Manager.” The award process recognizes portfolio managers who Morningstar believes demonstrate the industry’s very best attributes, including investment skill and an alignment of interests with the strategies’ investors.

Morningstar announced three nominees for the Outstanding Portfolio Manager on May 1, 2024. In addition to Hart, they are the Loomis Sayles Global Allocation Team and Ford O’Neil of Fidelity Total Bond.

“Each of our 2024 nominees deserve praise for their impressive track records, structured yet flexible approaches, and their commitment to prioritizing the interests of investors above their own," said Tim Strauts, Morningstar’s head of manager research, North America. “A step above the rest this year is Clare Hart, who has notably excelled through diligent, research-driven processes, establishing a high standard for managerial excellence.”

Outstanding Portfolio Manager: Clare Hart, JPMorgan

Clare Hart took over JPMorgan Equity Income in August 2004 where she established and maintains a long track record of strong investment philosophy and high performance. Since the start of Hart’s tenure, the fund has earned a 9.4% annualized gain, beating the large value Morningstar category and the Russell 1000 Value Index by more than a percentage point.

As lead manager, Hart has favored established companies that pay reliable dividends, giving shareholders exposure to yield-rich, value-leaning sectors. Hart’s competitive advantage lies in her ability to steer the fund away from areas and stocks that have enticing yields but deficient business models.

“In Clare’s two-decade tenure leading JPMorgan Equity Income, she has employed a prudent investment approach with investors’ best interests in mind,” said Todd Trubey, senior manager research analyst at Morningstar. “Clare built a fund that is easy to own and has navigated bear markets well. With her retirement this fall, she is leaving a legacy marked by exceptional stewardship for investors.”

Read more about Clare Hart and her work with JPMorgan Equity Income on Morningstar.com here. CNBC will feature the Investing Excellence Awards on its “Power Lunch” program today at 2 p.m. ET. Live updates from the award announcement will be available on X at https://twitter.com/MorningstarInc or through the hashtag, #MstarAwards.

Morningstar has granted annual awards to accomplished portfolio managers since 1988. The Morningstar Awards for Investing Excellence winners are chosen based on research and in-depth qualitative evaluation by Morningstar's manager research group. To qualify for the Outstanding Portfolio Manager Award, the manager’s strategy must currently earn a Morningstar Medalist Rating of Gold or Silver for at least one vehicle and/or share class. For more information about Morningstar Awards, visit https://go.morningstar.com/Morningstar-Awards.

About Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and solutions that serve a wide range of market participants, including individual and institutional investors in public and private capital markets, financial advisors and wealth managers, asset managers, retirement plan providers and sponsors, and issuers of fixed-income securities. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $294 billion in AUMA as of March 31, 2024. The Company operates through wholly- or majority-owned subsidiaries in 32 countries. For more information, visit https://www.morningstar.com/company/about-us. Follow Morningstar on X (formerly known as Twitter) @MorningstarInc.

Morningstar’s Manager Research Group

Morningstar’s Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC. Morningstar Manager Research provides independent, fundamental analysis on managed investment strategies. Morningstar views are expressed in the form of Morningstar Medalist Ratings, which are derived through research of three key pillars—People, Process, and Parent. The Morningstar Medalist Rating is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. A global research team issues detailed research reports on strategies that span vehicle, asset class, and geography.

Medalist Ratings are not statements of fact, nor are they credit or risk ratings, and should not be used as the sole basis for investment decisions. A Medalist Rating is not intended to be nor is a guarantee of future performance. This press release is for informational purposes only; references to securities should not be considered an offer or solicitation to buy or sell the securities.

©2024 Morningstar, Inc. All Rights Reserved.

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Michael Claussen, +1 312 244-7239 or newsroom@morningstar.com

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