Michael H. Possley

Founded in 1977, Ibbotson Associates Advisors LLC is a registered investment advisor located in Chicago, Illinois. The firm is a subsidiary of Morningstar, Inc. (NASDAQ: MORN). Their clients include mutual fund firms, banks, broker/dealers and insurance companies around the world.

Morningstar, Inc. (Research) is the investment research arm of Morningstar, Inc. (NASDAQ: MORN), an American financial services firm headquartered in Chicago, Illinois. The firm was founded by Joseph Mansueto in 1984 and provides independent portfolio information offering star ratings and analysis of managed funds. They also provide economic commentary and asset allocation information based on qualitative research.

Wilshire Advisors LLC (Wilshire) is a privately-held investment technology and advisory firm headquartered in Santa Monica, California. The firm was founded by Dennis Tito in 1972 as Wilshire Associates, Inc. Wilshire provides innovative investment solutions, consulting services and multi-asset analytics to institutional and intermediary clients worldwide.