Morningstar Funds Trust Board of Trustees Elects New Independent Trustee

Jennifer Choi Brings 30 Years of Mutual Fund Governance Experience and Policy Expertise

CHICAGO, March 15, 2023 /PRNewswire/ -- Morningstar Funds Trust Board of Trustees today announced the appointment of Jennifer Choi as an Independent Trustee, effective April 1, 2023.

Jennifer has almost 30 years of experience in the public policy arena for the financial services industry with expertise on regulatory and policy trends. Jennifer also has significant global perspective with extensive experience working on international issues.

Jennifer is a Professorial Lecturer in Law at the George Washington University School of Law teaching Regulation of Mutual Funds and Their Investment Advisers. From 2006 to 2018, Jennifer also served as an adjunct professor of law at American University's Washington College of Law.

Previously, Jennifer was counsel and senior policy adviser to the law firm of Ropes & Gray in Washington, DC, advising on a wide variety of regulatory, governance, and market matters. Prior to that, Jennifer was chief counsel of ICI Global, heading the global policy work for the Investment Company Institute - the leading trade association representing regulated investment funds. During her 16 years at ICI, she held various roles, including associate general counsel for global capital markets policy and associate counsel for international policy. Prior to that, Jennifer worked at the Investment Adviser Association. From 1995 to 1999, she held various positions at the US Securities and Exchange Commission, including assistant director in the Division of Investment Management and special counsel in the Division of Market Regulation (now the Division of Trading and Markets). At the SEC, she also received the Martha Platt Award for dedication, excellence, and integrity.

Independent Chair Theresa Hamacher commented on the election of Jennifer Choi: "We are delighted to welcome Jennifer to the Board of the Morningstar Funds Trust. Her knowledge of mutual fund regulatory and policy matters, both domestic and international, is unparalleled in the industry and her experience will be particularly valuable today, complementing that of other current trustees."

"Jennifer has a distinguished career and established record on behalf of good governance in the fund industry and is known for her deep industry knowledge. We look forward to working with her on behalf of the Funds and their shareholders," said Linda Davis Taylor, Governance Committee Chair of Morningstar Funds Trust Board of Trustees. "Jennifer joining the Board will further strengthen our commitment to addressing and advancing our framework of guiding principles of Independence, Transparency, Education, and Diversity."

The search was conducted by Wilbanks Partners.

About Morningstar Funds Trust

Morningstar Funds Trust is a Delaware statutory trust organized under the laws of the State of Delaware and is registered with the Securities and Exchange Commission as an open-end management investment company under the Investment Company Act of 1940, as amended. The Morningstar Funds Trust consists of nine (9) segregated portfolios each having their own investment objectives (i.e., a series fund, each referred to hereafter as "Morningstar Fund," collectively as "Morningstar Funds"). Morningstar Funds Trust is structured as a multi-manager fund with Morningstar Investment Management LLC serving as the primary investment adviser with each Morningstar Fund having one or more subadvisors. Morningstar Funds Trust is available through investment programs provided by financial institutions including the Morningstar Managed Portfolios advisory service. Important information on Morningstar Funds including its prospectus can be found here.

Media Contact: James Doyle of JConnelly, [email protected] or 973-944-8105

SOURCE Morningstar Funds Trust