(PUB) Morningstar FundInvestor

Morningstar FundInvestor Volume 22 , Number 8 Director of Fund Research and Editor Russel Kinnel Contributing Analysts

Morningstar FundInvestor 22 W. Washington Street Chicago, Illinois 60602

Periodicals Postage P a i d Chicago, Illinois and additional offices

Greg Carlson, Flynn Murphy, Kathryn Spica, Gregg Wolper

ADDRESS SERVICE REQUESTED

Copy Editors Edward Cavanaugh, Thad Doria, Jennifer Ferone Gierat, Elizabeth Knapik Designer Claudia Olariu Quality Assurance Sandra Benedict Publisher Peggy Seemann Director of Active Fund Research Michael Herbst Director of Personal Finance Christine Benz Head of Global Research Haywood Kelly, CFA © 2014 Morningstar, Inc. All rights re- served. Reproduction by any means is prohibited. While data contained in this report are gathered from reliable sources, accuracy and completeness cannot be guaranteed.The publisher does not give investment advice or act as an investment advisor. All data, information, and opinions are subject to change without notice. Reprints of articles and information ap- pearing in this publication are available in quantity: reprints@morningstar.com Inquiries about your subscription? newslettersupport@morningstar.com Please address all correspondence to Peggy Seemann, Morningstar, Inc., 22 W. Washington Street, Chicago, IL 60602 . Occasionally, we make our subscriber list available to carefully screened companies that offer products and services that we believe would in- terest our readers. If you do not want to receive these offers and/or in- formation, please send your request by mail to: Morningstar, Inc. Attn: Circulation, 22 W. Washington St., Chicago, IL 60602. Morningstar FundInvestor (ISSN 1099- 0402) is published monthly by Morn- ingstar, Inc., 22 W. Washington Street, Chicago, IL 60602 . For address changes, please call our product support line at 312-424-4288 . For subscriptions call: toll-free 866-608-9570 . Periodicals postage paid at Chicago, IL and at additional mailing offices. POSTMASTER : Send address changes to Morningstar FundInvestor, 22 W. Washington Street, Chicago, IL 60602 . FSN 201404 (ISSN 1099-0402) This publication is printed on Cascades Rolland Enviro 100 Satin paper, which contains 100% postconsumer waste fiber and is manufactured using biogas energy.

Market-Beating Returns. Less Risk. Low Turnover.

205.3%

94.9%

S&P 500

Combined Tortoise & Hare

Total cumulative returns 6/18/01–12/31/13

Morningstar Customers Save $36 on Morningstar StockInvestor. Morningstar StockInvestor is the perfect complement to the investing ideas you already receive each month. Our fundamentals-based approach identifies wide-moat companies—those with established competitive advantages and generous free cash flows—that are trading at discounts to their intrinsic value. As a result, you get more ideas for core holdings poised to thrive in any economic climate. See why we’ve outperformed the S&P 500 by more than 110 percentage points over 12 years. There’s no risk, thanks to The Morningstar Guarantee. Sign up now and save.

Loyal Customer Savings Morningstar StockInvestor One-Year Subscription Print | $135 $99

Call Now to Save 1-866-910-1145 (mention code: SAVE36)

Made with