Exhibit 21.1
The information below is presented as of March 1, 2007. Except as specifically indicated below, Morningstar, Inc. holds, directly or indirectly, a 100% interest in each entity listed below. Some inactive subsidiaries have been omitted.
Subsidiaries of Morningstar, Inc.
Subsidiary |
| Jurisdiction of Formation |
Morningstar Associates, LLC |
| Delaware |
Morningstar Associates Europe Limited (1) |
| United Kingdom |
Morningstar Investment Services, Inc. |
| Delaware |
Morningstar Research Pty Limited (Morningstar Australia) |
| Australia |
Morningstar Group Australia |
| Australia |
Morningstar Direct Investments (2) |
| Australia |
Aspect Huntley Pty Limited (3) |
| Australia |
Aspect Financial Pty Limited (4) |
| Australia |
Huntleys’ Investment Information Pty Limited (4) |
| Australia |
Aspect Huntley Thailand Limited (5) |
| Australia |
InvestorInfo Limited (4) |
| Australia |
Morningstar Canada Group, Inc. |
| Canada |
Morningstar Research, Inc. (6) |
| Canada |
Morningstar Asia, Ltd. |
| China |
Morningstar Research (Shenzhen) Ltd. (7) |
| China |
Morningstar Danmark A/S (8) |
| Denmark |
SAS Morningstar France (9) |
| France |
Morningstar Deutschland GmbH (10) |
| Germany |
Morningstar Italy, S.R.L. (9) |
| Italy |
Morningstar Japan, K.K. (11) |
| Japan |
Fund Information Research, G.K. |
| Japan |
Morningstar Korea, Ltd. (12) |
| Korea |
Morningstar Research Limited (Morningstar New Zealand) (13) |
| New Zealand |
Morningstar Norge AS (9) |
| Norway |
Morningstar Europe, N.V. (14) |
| The Netherlands |
Morningstar Holland, B.V. (9) |
| The Netherlands |
Morningstar Portugal Unipessoal LDA (9) |
| Portugal |
Morningstar Network, S.L.U. (10) |
| Spain |
Morningstar Europe, A.B. (9) |
| Sweden |
Morningstar Sweden (Fondstar) AB (8) |
| Sweden |
Morningstar Europe, Ltd. (9) |
| United Kingdom |
Morningstar U.K., Ltd. (9) |
| United Kingdom |
Ibbotson Associates, Inc. |
| Illinois |
Ibbotson Associates Advisors, LLC (15) |
| Delaware |
Ibbotson Associates Japan, K.K. (16) |
| Japan |
| |
(2) Morningstar Group Australia owns 100%. |
|
(3) Morningstar Direct Investments owns 100%. |
|
(4) Aspect Huntley Pty Limited owns 100%. |
|
(5) Aspect Huntley Pty Limited owns approximately 78%. |
|
(6) Morningstar Canada Group, Inc. owns 100%. |
|
(7) Morningstar Asia, Ltd. owns 100%. |
|
(8) Morningstar Europe, N.V. owns approximately 25%. |
|
(9) Morningstar Europe, N.V. owns 100%. |
|
(10) Morningstar Holland, B.V. owns 100%. |
|
(11) Morningstar, Inc. owns approximately 35%. |
|
(12) Morningstar, Inc. owns 40%. |
|
(13) Morningstar Research Pty Limited owns 100%. |
|
(14) Morningstar, Inc. owns approximately 98%. |
|
(15) Ibbotson Associates, Inc. owns 100%. |
|
(16) Ibbotson Associates, Inc. owns approximately 68%. |
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