Morningstar Investment Management Australia

What Morningstar Investment Management Australia does

Morningstar Investment Management Australia Ltd is a Sydney-based, wholly-owned subsidiary of Morningstar Inc. (NASDAQ: MORN) that delivers multi-asset investment solutions to Australian individual investors (including SMSF trustees), financial advisers and dealer groups, and institutional investors such as superannuation funds and endowments. The firm operates an AFSL (No. 228986) and maintains a product surface spanning multi-asset managed accounts (including the Medalist Core suite across six risk profiles and a separate family of risk-banded Multi-Asset Managed Accounts from Conservative to All Growth), a managed-fund range (Multi-Asset Real Return Funds across four risk tiers, International Shares Hedged and Unhedged, and Australian Shares), and the ASX-listed Morningstar International Shares Active ETF (MSTR).

Name

Morningstar Investment Management Australia

Legal name

Morningstar Investment Management Australia Ltd

Website

https://morningstarinvestments.com.au

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Morningstar Investment Management Australia Ltd is a Sydney-based, ASIC-regulated (AFSL 228986) subsidiary of Morningstar Inc. that provides multi-asset managed accounts, managed funds, and the MSTR ETF to Australian individual investors, financial advisers, and institutional clients.

Ownership category

akta.pro rank

Product category

Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Target-Risk / Risk-Profile Model Portfolios (FSAAAJAD)

akta.pro secondary industries

Multi-Asset Solutions for Institutional (Pensions/Endowments/Sovereigns) (FSAAAJAJ), Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)

Keywords

• Multi-asset portfolio management
• Managed investment accounts
• Asset management services
• Investment research solutions
• Wealth management products

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: Morningstar Investment Management generates revenue through management fees charged on assets under management across its managed accounts, managed funds, and ETF products. Fee structure includes competitive pricing for Medalist Core portfolios.
2. ETF Management Fee: Morningstar International Shares Active ETF (MSTR) charges 0.39% p.a. management fee on NAV of approximately $331 million.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Morningstar Investment Management Australia delivers multi-asset investment management solutions through three product structures: managed accounts (including the proprietary Medalist Core Portfolios across six risk profiles), a suite of multi-asset and sector specialist managed funds, and an actively managed ASX-listed international shares ETF (MSTR). Portfolios combine valuation-driven asset allocation with a blend of direct investments, ETFs, in-house managed funds, and external specialist managers, and are made available to individual investors, SMSF trustees, financial advisers, and institutional clients.

Product overview

Morningstar Investment Management Australia offers a unified multi-asset investment platform combining managed funds, managed accounts, and an ASX-listed ETF. The core offering centers on Medalist Core managed accounts — using Morningstar's proprietary Medalist Ratings process to select highly rated managed funds and ETFs across six risk profiles — alongside multi-asset managed accounts with risk profiles from 15 (Conservative) to 98 (All Growth). The managed fund suite spans Real Return funds (Moderate through High Growth), International Shares funds (Hedged and Unhedged), Australian Shares Fund, and an International Shares Active ETF (MSTR, ASX: MSTR). Portfolios blend direct investments, ETFs, in-house managed funds, and specialist external managers. Products are accessible directly, via BPAY, through ASX mFund (closed October 2025), and across multiple platforms including BT Panorama, AMP MyNorth, Colonial First State Edge, HUB24, Macquarie Wrap, Netwealth, Praemium, IconiQ, and Insignia.

Differentiator

Problem solved

Functional benefit

Brands

• Medalist Core Portfolios: Managed account portfolios delivering Morningstar's best investment ideas, using independent fund research, asset allocation, and portfolio construction across six risk profiles.
• Morningstar Managed Portfolios
• MSTR (Morningstar International Shares Active ETF)
• Morningstar Multi Asset Real Return Funds
• Morningstar Diversified Income (45) Managed Account

Products and services

• Multi-Asset Managed Accounts Separately managed accounts offering diversified multi-asset exposure across multiple risk profiles, from Conservative (15) to All Growth (98), with full transparency of underlying holdings, distributed via wealth platforms and direct adviser relationships.
• Medalist Core Managed Accounts Implemented managed account portfolios across six risk profiles employing Morningstar's independent Medalist Ratings fund manager research to select highly rated managed funds and ETFs, with active management where outperformance is likely and passive where it is not.
• Morningstar Multi Asset Real Return Fund Multi-asset fund targeting real returns above inflation, available as a managed fund and via mFund (IBB13), offering diversified exposure across asset classes with active risk management.
• Morningstar High Growth Real Return Fund Higher-risk real return fund targeting growth above inflation, with greater equity allocation than moderate real return funds.
• Morningstar Growth Real Return Fund Growth-oriented real return fund targeting returns above inflation through diversified multi-asset portfolio construction.
• Morningstar Balanced Real Return Fund Balanced real return fund with moderate risk profile targeting returns above inflation through a blend of growth and defensive assets.
• Morningstar Moderate Real Return Fund Moderate-risk real return fund targeting above-inflation returns with greater emphasis on capital preservation relative to growth-oriented funds.
• Morningstar International Shares (Unhedged) Fund International equities fund providing unhedged exposure to global shares, allowing investors to participate in currency movements.
• Morningstar International Shares (Hedged) Fund International equities fund with currency hedging to minimize the impact of foreign exchange volatility for Australian investors.
• Morningstar Australian Shares Fund Sector specialist fund providing concentrated exposure to Australian listed equities selected through Morningstar's equity research process.
• Morningstar International Shares Active ETF (MSTR) Actively managed exchange traded fund listed on ASX (Ticker: MSTR) providing hedged exposure to international shares, focused on high-quality attractively valued companies, with a 0.39% p.a. management fee and daily portfolio holdings disclosure.
• Morningstar Diversified Income (45) Managed Account Managed account with a 45% growth / 55% defensive asset allocation targeting income and moderate capital growth.
• Morningstar Balanced Growth (60) Managed Account Managed account with a 60% growth / 40% defensive asset allocation targeting balanced growth and income.
• Morningstar Aggressive (80) Managed Account Higher-risk managed account with 80% growth / 20% defensive allocation targeting aggressive capital growth.
• Morningstar All Growth Managed Account Managed account with near-full equity exposure targeting maximum long-term capital growth.
• OCIO (Outsourced CIO) Solutions Outsourced Chief Investment Officer services for institutional investors, providing comprehensive investment management oversight and decision-making through dedicated institutional investment team.
• Morningstar Multi-Manager Portfolios Multi-manager portfolio services for institutional clients, combining specialist fund managers from around the world within a multi-asset framework tailored to institutional investment mandates.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature3 records

Partnerships

Ten partnerships are on record, tiered core.

• AMP - MyNorth PlatformcoreChannel Partner/ Reseller/ DistributorMorningstar's retail managed funds and managed accounts including Multi-Asset Managed Funds, Morningstar Multi Asset Real Return Fund, and Medalist Core suites are available on the AMP MyNorth platform, providing access to a wide range of professionally managed investments.
• BT - Panorama PlatformcoreChannel Partner/ Reseller/ DistributorBT Panorama platform offers Morningstar High Growth Real Return Fund, Morningstar Growth Real Return Fund, Morningstar Balanced Real Return Fund, Morningstar Moderate Real Return Fund, Morningstar Multi Asset All Growth Fund, and various managed accounts including All Growth, Balanced Growth, Diversified Income, and Conservative.
• Colonial First State - Edge PlatformcoreChannel Partner/ Reseller/ DistributorColonial First State Edge platform offers Morningstar International Shares (Unhedged) Fund and Morningstar Medalist Core suite of managed accounts.
• HUB24 PlatformcoreChannel Partner/ Reseller/ DistributorHUB24 platform offers Morningstar International Shares (Hedged) Fund, Morningstar Australian Shares Fund, Morningstar International Bonds (Hedged) Fund, Sector Managed Account, and Morningstar Australian Shares Income Managed Account.
• Macquarie - Wrap PlatformcoreChannel Partner/ Reseller/ DistributorMorningstar investment solutions available through Macquarie Wrap platform.
• Netwealth - Accelerator PlatformcoreChannel Partner/ Reseller/ DistributorMorningstar investment solutions available through Netwealth Accelerator platform.
• Praemium PlatformcoreChannel Partner/ Reseller/ DistributorMorningstar investment solutions available through Praemium platform.
• IconiQ PlatformcoreChannel Partner/ Reseller/ DistributorMorningstar investment solutions available through IconiQ platform.
• Insignia - Grow Wrap & Voyage PlatformcoreChannel Partner/ Reseller/ DistributorMorningstar investment solutions available through Insignia (Grow Wrap & Voyage) platform.
• Link Market ServicescoreTechnology or IntegrationLink Market Services is the unit registry service provider for Morningstar Investment Funds. Existing investors receive Customer Reference Numbers and transaction statements through Link Market Services.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Vanguard Australia: Vanguard Australia is the dominant low-cost multi-asset and index provider on the same Australian advised platforms (HUB24, Netwealth, Macquarie Wrap), competing directly with Morningstar's Medalist Core and MSTR with very low-fee multi-asset and ETFs.
• BlackRock Australia: BlackRock Australia offers iShares ETFs and multi-asset model portfolios distributed on the same Australian platforms. Direct overlap with Morningstar's ETF (MSTR) and managed-account business, with global research resources comparable to Morningstar Inc.
• Perpetual Limited: Perpetual is a leading Australian multi-asset and Australian equities manager with multi-asset income and growth funds distributed via the same platforms (HUB24, Netwealth, BT Panorama), making it a direct competitor to Morningstar's Real Return fund range.
• Insignia Financial (IOOF): Insignia owns the Grow Wrap and Voyage platforms and offers in-house multi-asset solutions and managed accounts that compete head-to-head with Morningstar's Medalist Core and Multi-Asset Managed Accounts on those same platforms.
• Colonial First State (CFS): CFS operates the FirstChoice platform and FirstChoice Managed Accounts with in-house multi-asset portfolios, competing directly with Morningstar's products on its own Edge platform and against Medalist Core on rival platforms.
• Betashares: Betashares is a leading Australian ETF issuer with active and thematic ETFs on the ASX, competing directly with Morningstar's MSTR ETF for adviser and direct-investor wallet share in the Australian international-equities sleeve.
• State Street Global Advisors Australia: State Street (SPDR) competes in Australian multi-asset and ETF categories on the same platforms as Morningstar, offering SPDR ETFs and model portfolios as alternatives to Medalist Core and MSTR.
• Pendal Group: Pendal is an Australian active asset manager offering multi-asset and Australian/international equities funds distributed on major platforms, directly comparable to Morningstar's active managed fund and managed account suite.

Emerging players

• Magellan Asset Management: Magellan runs active global equities strategies and an ETF (MAGG) that overlap with MSTR's international equities exposure; both are Australian-domiciled active managers with research-driven approaches and platform distribution.
• Russell Investments Australia: Russell Investments provides multi-asset and OCIO solutions to Australian institutional and advised clients, closely comparable to Morningstar's OCIO and Multi-Manager Portfolios offering for institutional and dealer-group clients.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

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Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Morningstar Investment Management Australia