Exhibit 21.1
The information below is presented as of March 1, 2009. 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. |
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Subsidiary |
| Jurisdiction of Formation |
National Datamax, Inc. (1) |
| California |
10-K Wizard Technology, LLC |
| Delaware |
Corporate Fundamentals, Inc. |
| Delaware |
Ibbotson Associates Advisors, LLC (2) |
| Delaware |
Morningstar Associates, LLC |
| Delaware |
Morningstar Fund Information LLC |
| Delaware |
Morningstar Investment Services, Inc. |
| Delaware |
Tenfore North America, Inc. (18) |
| Delaware |
Ibbotson Associates, Inc. |
| Illinois |
Financial Computer Support, Inc. |
| Maryland |
Hemscott, Inc. |
| Virginia |
Aspect Huntley Pty Limited (3) |
| Australia |
Aspect Financial Pty Limited (4) |
| Australia |
InvestorInfo Limited (4) |
| Australia |
Morningstar Australasia Pty Limited (4) |
| Australia |
Morningstar Direct Investments (5) |
| Australia |
Morningstar Group Australia |
| Australia |
Morningstar Research Pty Limited (Morningstar Australia) |
| Australia |
Morningstar Research Thailand Limited (6) |
| Australia |
Morningstar Canada Group, Inc. |
| Canada |
Morningstar Research, Inc. (7) |
| Canada |
Morningstar Asia, Ltd. |
| China |
Morningstar Research (Shenzhen) Ltd. (8) |
| China |
Morningstar Danmark A/S (9) |
| Denmark |
Morningstar France Holding SAS (10) |
| France |
Morningstar France Fund Information SARL (11) |
| France |
Morningstar Deutschland GmbH (10) |
| Germany |
Tenfore Financial Information GmbH (12) |
| Germany |
Morningstar Hong Kong Fund Information, Ltd. (8) |
| Hong Kong |
Morningstar Research Private Limited (8) |
| India |
Morningstar India Private Limited (13) |
| India |
Morningstar Italy, S.R.L. (14) |
| Italy |
Morningstar Japan, K.K. (15) |
| Japan |
Ibbotson Associates Japan K.K. (16) |
| Japan |
Morningstar Korea, Ltd. (17) |
| Korea |
Tenfore Benelux B.V. (18) |
| The Netherlands |
Morningstar Europe, B.V. |
| The Netherlands |
Morningstar Holland, B.V. (14) |
| The Netherlands |
Morningstar Research Limited (Morningstar New Zealand) (19) |
| New Zealand |
Morningstar Norge AS (14) |
| Norway |
Morningstar Portugal Unipessoal LDA (14) |
| Portugal |
Morningstar Research PTE Limited (8) |
| Singapore |
Morningstar Research (Proprietary) Limited (10) |
| South Africa |
Morningstar Network, S.L. (10) |
| Spain |
Morningstar Europe, A.B. (14) |
| Sweden |
Morningstar Sweden (Fondstar) AB (9) |
| Sweden |
Morningstar Switzerland GmbH (10) |
| Switzerland |
Fundamental Data Limited (20) |
| United Kingdom |
Hemscott Group Limited (20) |
| United Kingdom |
Morningstar Associates Europe Limited (21) |
| United Kingdom |
Morningstar Europe, Ltd. (14) |
| United Kingdom |
Morningstar U.K., Ltd. (14) |
| United Kingdom |
Tenfore Systems Limited (20) |
| United Kingdom |
Tenfore Systems Holding (18) |
| United Kingdom |
(1) Financial Computer Support, Inc. owns 100%.
(2) Ibbotson Associates, Inc. owns 100%.
(3) Morningstar Direct Investments owns 100%.
(4) Aspect Huntley Pty Limited owns 100%.
(5) Morningstar Group Australia owns 100%.
(6) Aspect Huntley Pty Limited owns approximately 78%.
(7) Morningstar Canada Group, Inc. owns 100%.
(8) Morningstar Asia, Ltd. owns 100%.
(9) Morningstar Europe, B.V. owns approximately 25%.
(10) Morningstar Holland, B.V. owns 100%.
(11) Morningstar France Holding SAS owns 100%.
(12) Tenfore Systems Holding owns 100%.
(13) Corporate Fundamentals, Inc. owns 100%.
(14) Morningstar Europe, B.V. owns 100%.
(15) Morningstar, Inc. owns approximately 34%.
(16) Ibbotson Associates, Inc. owns approximately 68%.
(17) Morningstar, Inc. owns 40%.
(18) Tenfore Systems Limited owns 100%.
(19) Morningstar Research Pty Limited owns 100%.
(20) Morningstar U.K., Ltd. owns 100%.
(21) Morningstar Associates, LLC owns 100%.