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Morningstar Year-End European Fund Research Report (2008)

Annus horribilis is an apt descriptor for 2008. Nearly everything that could go wrong for investors did. Credit markets locked up....

Analysis shows fund closures on the rise; small-cap, commodities and financials drag funds down, and investors shun risk.

HONG KONG, Jan 23, 2009 - Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, today released its analysis of fund performance for 2008 for the European fund universe. All performance is denoted in USD unless otherwise stated.

Overview
Annus horribilis is an apt descriptor for 2008. Nearly everything that could go wrong for investors did. Credit markets locked up, housing prices skidded in Europe, the UK and the United States, and major financial institutions either failed or were forced into merger

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