Understand what you’re investing in

Mathew Hodge is the regional director of equity research, Australia and New Zealand, for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. Hodge joined Morningstar equity research via the acquisition of Aspect Huntley in 2006. He has more than 20 years of experience, primarily covering the metals and mining sector. He has led the Australian equity research team since 2021. In addition, Hodge has sat on Morningstar's economic moat committee since 2014, led the refresh of our capital allocation methodology in 2020, and also led the rollout and adoption of Smart Brevity-style equity analyst notes in 2024. Hodge joined Aspect Huntley in 2001. Hodge studied mining engineering at the University of New South Wales and worked in underground coal. He holds the Chartered Financial Analyst® designation.

Lochlan Halloway is an equity strategist for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. He provides a broad analysis of the Australian and New Zealand stock markets based on intrinsic valuations generated by our equity research team. He also covers ASX-listed healthcare stocks. Before joining Morningstar in 2023, Halloway was an adviser at the Department of the Prime Minister and Cabinet. He previously worked as an economist at Westpac. Halloway holds a Bachelor of Economics (Hons and University Medal) from the University of Sydney and a master’s degree in financial economics from the University of Oxford. He holds the Chartered Financial Analyst® designation.

Johannes Faul is a director for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. He covers the defensive and cyclical retail sectors across Australia and New Zealand. Faul joined Morningstar in April 2016 and has over 10 years’ experience as a sell-side analyst, including at the Commonwealth Bank of Australia, the Bank of Montreal, and the Royal Bank of Scotland. Prior to that, he worked in corporate finance at PricewaterhouseCoopers. Faul has a master’s degree in business administration from the University of Cologne and holds the Chartered Financial Analyst® designation.

Brian Han is a director of equity research for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. He covers the telecommunications, media, and leisure sectors across Australia and New Zealand. Before joining Morningstar in 2014, Han was a senior research analyst at Fat Prophets, a fund manager at Constellation Capital Management, and an analyst at Citigroup, Credit Suisse UK, and BZW/ABN Amro. Han has a bachelor’s degree in commerce (finance) and law, both from the University of New South Wales. He also has a postgraduate diploma in applied finance and investment from Finsia.

Angus Hewitt is a senior equity analyst for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. He covers gaming and consumer sectors across Australia and New Zealand. Before joining Morningstar in 2015, Hewitt worked as an equity associate at Commonwealth Securities. Hewitt holds a bachelor’s degree in finance from the Australian National University. He also holds the Chartered Financial Analyst® designation.

Mark Taylor is a senior equity analyst for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. He is primarily responsible for researching Australian-listed companies in the energy and mining services sectors. Taylor joined Aspect Huntley in 2003 and was with the firm when Morningstar acquired it in 2006. He also worked for Shaw Stockbroking as a research analyst and corporate finance executive. Taylor holds a bachelor's degree and a graduate diploma in mineral economics from Macquarie University.

Jon Mills is an equity analyst for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. He covers the major global and Australian-based miners. Before joining Morningstar in 2021, Mills worked for two years at a Sydney-based financial technology company. Prior to that, he was an analyst for nearly four years at an investment research and fund management company. Mills holds a Bachelor of Commerce majoring in finance and accounting and a Bachelor of Laws degree from the University of Sydney. He also holds the Chartered Financial Analyst® designation.

Nathan Zaia is a senior equity analyst for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. He covers the Australian banking and insurance sectors. Before rejoining Morningstar in 2019, Zaia spent almost three years as an investment analyst with Commonwealth Bank of Australia and Sequoia Financial Group, where he was responsible for Australian equity research and portfolio management. Prior to 2016, Zaia spent more than nine years in equity research at Morningstar, where he covered a range of companies across industrials and diversified financials. Nathan holds a Bachelor of Business from the University of Western Sydney.

Shaun Ler is an equity analyst for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. He is primarily responsible for research on diversified financial securities, including asset and wealth managers, financial technology, and business services. Prior to joining Morningstar in 2018, Ler was an investment analyst for Canaccord Genuity’s asset-management division, where he was responsible for company research and analysis on the Canaccord Australian Equities Portfolios before transitioning to the firm’s equity research division. Ler holds a Bachelor of Commerce from the University of Melbourne and is a Certified Practising Accountant (CPA).

Yingqi Tan is an equity analyst for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. Her focus is on Australian and New Zealand-based REITs and property companies. Before joining Morningstar in 2023, Tan spent more than three years working for a Big Four consulting firm, reviewing and auditing financial advice to help remediate private-wealth clients. Tan holds a bachelor's degree in business administration. She also holds a master’s degree in econometrics from the University of Sydney. She also holds the Chartered Financial Analyst® designation.

Adrian Atkins is a senior equity analyst for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. He mainly covers utilities and transport (excluding airlines) across Australia, New Zealand, Hong Kong and Japan. Before joining Morningstar in 2007, Adrian worked in corporate credit ratings at a major global ratings agency and in equity research at Aspect Huntley, which was acquired by Morningstar in 2006. Atkins has a bachelor's degree in aeronautical engineering and a master's degree in commerce (Hons), majoring in finance and economics, both from the University of Sydney.

Esther Holloway is an equity analyst for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. She is responsible for covering the industrials sector. Before joining Morningstar in 2021, Holloway had a career in marketing, working with leading brands in the business-to-business space. Most recently, she held roles in marketing strategy and management. Holloway holds a Bachelor of Commerce (Management) from the University of Canterbury, a Master of Business Administration from Macquarie University, and has passed level I of the Chartered Financial Analyst® Program.

Roy van Keulen is an equity analyst for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. He covers technology companies. Before joining Morningstar in 2021, Van Keulen conducted a Ph.D. study on the impact of the digital revolution and worked as a management consultant advising businesses in various industries on their strategic positioning for the digital age. Van Keulen also developed several award-winning frameworks for assessing the future competitive environment of companies. Van Keulen holds a doctorate in philosophy of technology from Leiden University. He also holds master's degrees in law and philosophy from Leiden University.

Alex Anderson is an associate equity analyst for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. Anderson previously worked for the share registry Boardroom Ltd. Anderson has completed a Master of Finance from the University of New South Wales and a Bachelor of Economics from the University of Queensland.

Oriana Pham is an associate equity analyst for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. She supports analysts across multiple sectors and contributes to fundamental research on selected stocks. Before joining Morningstar in 2024, Pham spent more than five years in financial advice remediation, primarily with National Australia Bank’s remediation program. Earlier in her career, she worked for nearly three years in financial planning as a paraplanner, including experience at Macquarie Bank. Pham holds a Bachelor of Commerce in accounting and finance from Swinburne University of Technology. She also holds the Chartered Financial Analyst® designation.

Leo Wang is an associate equity analyst for Morningstar Australasia Pty Ltd, a wholly owned subsidiary of Morningstar, Inc. He supports the equity research team across a diverse range of sectors, including energy, retail, technology, healthcare, and industrials. Before joining Morningstar in 2024, Wang advised private-wealth clients working for a Big Four consulting firm. He also gained capital market experience through internships in equity research and wealth management. Wang holds a Bachelor of Commerce in finance and accounting from the University of Sydney. He has passed level II of the Chartered Financial Analyst® Program.

Wing Chan is Head of Manager Research, Asia-Pacific at Morningstar Asia Limited, a wholly owned subsidiary of Morningstar, Inc. He is responsible for leading Morningstar’s manager research teams in Australia, Greater China, India, Japan, and Singapore, producing forward-looking ratings and insightful research for investors. In addition, Wing serves as director of Morningstar Asia Limited and oversees the delivery of manager selection and governance solutions to financial institutions and intermediaries in Asia. Prior to joining Morningstar in 2013, Chan was an investment counselor for EFG Bank, where he advised on investment solutions and contributed to the bank’s mutual fund research and due-diligence effort in Asia. He also worked as an investment associate for Macquarie Private Bank and as an investment consultant for Lonsec Limited. Chan holds a bachelor’s degree in economics and finance, with merit, from the University of New South Wales.

Matt Olsen is Director of Manager Research Ratings, Australasia. Prior to Morningstar, he was Head of Research and Retirement Income at Insignia Financial, CEO of Lonsec Research, and Chief Investment Officer at EISS Super. He also worked as a senior stock analyst for Colonial First State, The Lowy Family Group, and Ausbil Dexia. Prior to his investment career, Olsen was a specialist in equity derivatives working at JPMorgan Chase in Sydney and London and at Banker’s Trust in Sydney. He also worked in Group Securitization at Westpac Treasury. Olsen holds a bachelor’s degree in commerce from the University of New South Wales (Co-Op Scholarship). He is also a Chartered Accountant.

Eva Cook is Director, Equity Strategies, Australasia. Cook joined Morningstar from TCorp, where she was Head of Equity, Partner Selection, managing investments across various listed equity markets. Her previous roles include Portfolio Manager at BT Financial Group and working for a multi-boutique business on the acquisition and partnership of fund management businesses. Cook worked for Société Générale Asset Management as a portfolio manager for 10 years before moving to Australia more than 15 years ago. She holds a master’s in finance from Sorbonne University, Paris-France.

Cerise Bootsma is a Senior Associate Analyst, Manager Research, Australasia. She is responsible for conducting research on Australian fund managers and their underlying funds, primarily in the Equities Asset Class. Before joining Morningstar, Cerise worked at Ninety-One and Allianz Global Investors in London and in roles in Financial Advice in Sydney. Cerise holds a Bachelor of Commerce, Finance from the University of New South Wales.

Thomas Dutka is Director, Fixed Interest, Multi-Asset and Superannuation Strategies, Australasia. He is responsible for conducting qualitative research on Australian and New Zealand fund managers and their funds. Before joining Morningstar in 2024, Dutka was a director in the investment solutions division of Patrizia SE (formerly Whitehelm Capital), providing investment consulting for institutional clients. Starting his career as a financial services lawyer at a leading Sydney law firm, he then worked for seven years in the origination team within the specialized investment solutions division of Macquarie Asset Management. His experience includes manager selection, strategy design, and investment research. Dutka holds a bachelor’s degree in law and a bachelor’s degree in commerce in finance (with distinction), both from the University of New South Wales. He also holds the Chartered Financial Analyst® designation.

He is responsible for leading the research coverage on Australian and New Zealand superannuation, multi asset, equity and fixed interest funds. William previously worked as a Research Manager in Chant West’s Superannuation Research Team. He also led and managed the Pricing and Actuarial team at Insignia Financial and was a Senior Manager in the Investment Governance team at Colonial First State (CFS). He brings over 17 years’ experience in superannuation and investment research, product and leadership roles. William holds a Bachelor of Actuarial Studies from Macquarie University. He also holds the Chartered Financial Analyst® designation.

Eun Sub (Subby) is a Senior Analyst, Manager Research, Australasia. His primary focus is on conducting qualitative research on Australian and New Zealand fixed interest managers and their funds. Before joining Morningstar in 2025, Kim spent over 12 years in the fixed income and multi-asset portfolio management team at Macquarie Asset Management. More recently, Kim worked over 7 years at Mercer where he served a number of roles, including as an investment consultant providing advice to institutional clients. Kim holds a bachelor's degree in commerce and applied finance from Macquarie University. He is also an Associate of the Institute of Actuaries of Australia (AIAA) and holds the Chartered Alternative Investment Analyst® designation.

Steven Le is Associate Director, Equities, Real Assets & Alternatives, Australasia. He is responsible for conducting research on Australian and New Zealand fund managers and their funds. Le joined Morningstar in 2018, where he initially worked in the institutional software division in Sydney before moving to the research team in 2021. Prior to joining Morningstar, Le worked for Ord Minnett, where he assisted financial advisors with investment research, portfolio construction, and trade execution. Before joining Ord Minnett, he was an equities and derivatives associate with CommSec Adviser Services. Le holds a bachelor's degree in business and commerce, with a major in applied finance from Western Sydney University.

Zunjar Sanzgiri is a Senior Analyst, Manager Research, Australasia. He is responsible for conducting research on Australian and New Zealand fund managers and their funds. Before joining Morningstar in 2020, Sanzgiri worked for CRISIL (an S&P Global company) for more than four years on the mutual fund research team. He was primarily responsible for conducting quantitative and qualitative research on India-domiciled funds. Sanzgiri holds a master’s degree in management studies, with a specialization in finance, from Mumbai University’s Jamnalal Bajaj Institute of Management Studies. Prior to that, he completed his bachelor’s degree in electrical engineering from Mumbai University. He also holds the Chartered Financial Analyst® designation.

Shamir Popat is a Senior Analyst, Manager Research, Australasia. He is responsible for conducting research on Australian and New Zealand fund managers and their funds. Before joining Morningstar in 2022, Popat spent the previous year as a senior investment analyst at a boutique investment consulting firm in Sydney. Prior to his arrival in Australia in 2020, he had spent almost a decade in investment consulting in Johannesburg. Popat holds a bachelor’s degree in finance from La Trobe University and a bachelor’s degree in computing from Deakin University.

Ibrahim Guled-Warfield is a Senior Analyst, Manager Research, Australasia. He is responsible for conducting research on Australian and New Zealand fund managers and their underlying funds. Guled-Warfield previously worked as an operations analyst at global-equities-focused Platinum Asset Management, covering the complete suite of middle office functions. Prior to that, he has experience in unit registry and fund administration on behalf of several Australia-based boutique asset managers. Guled-Warfield holds a bachelor’s degree in economics from the University of Sydney.