Morningstar Retirement and Alta Trust Company Launch Foundation Series Collective Investment Trusts to Expand Access to Professionally Managed Retirement Portfolios

Six standardized, distribution‑ready CITs aim to reduce friction, broaden access, and modernize how retirement services are delivered

CHICAGO–(BUSINESS WIRE)–Morningstar Retirement, part of Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment insights, today announced a strategic collaboration with Alta Trust Company and a group of leading asset managers to launch the Foundation Series Collective Investment Trusts (CITs), a set of six multi-manager portfolios designed to broaden access to institutional-quality investment services for retirement plans of all sizes.

Built on Morningstar’s managed accounts portfolio framework, the Foundation Series CITs are designed to simplify implementation for recordkeepers by eliminating the need for additional build work. The standardized approach also supports a recordkeeper’s existing stable value fund, enabling plan sponsors to offer more complete and customizable investment lineups without added operational demands.

“The Foundation Series CITs accelerate the industry’s shift toward scalable personalization,” said Nathan Voris, head of go‑to‑market and marketing at Morningstar Retirement. “By reducing adoption barriers and standardizing the building blocks used within our managed accounts, we’re giving more plans a clearer, more streamlined path to delivering tailored, professionally managed investment experiences for their participants.”

Alta Trust will serve as the trustee, CIT sponsor, and administrator for the Foundation Series. Morningstar Retirement will lead portfolio design, fund curation, and ongoing oversight, drawing from a defined universe of funds offered by nine distinguished asset managers—Columbia Threadneedle, Federated Hermes, First Eagle, Guggenheim Investments, Heitman, Invesco, MFS Investment Management, Neuberger Berman, and PIMCO. This multi‑manager structure stands apart from single‑manager or proprietary CIT offerings, delivering broader diversification, independent oversight, and access to a sophisticated blend of institutional investment expertise.

“These distribution-ready CITs give recordkeepers a consistent format that works with existing platforms—including stable value funds—so plan sponsors can offer institutional, multi‑manager portfolios without bespoke builds,” said Brian Harriman, director of retirement at Alta Trust Company. “Together with Morningstar, we’re enabling broader access to professionally managed investment solutions and helping advance innovation across the industry.”

The Foundation Series CITs are now available to receive funds. For more information, visit www.trustalta.com/foundationseriesCIT.

About Morningstar Retirement

Morningstar Retirement empowers investor success by providing research- and technology-driven products and services that help individuals reach their retirement goals. With advisory services provided by Morningstar Investment Management LLC, a registered investment adviser, Morningstar Retirement supports and collaborates with workplace retirement plans and other industry players to differentiate their services, stay competitive, and reach new markets, all in service of building a better retirement system. Morningstar Retirement not only helps people save for the retirement they want but helps them make their money last once they get there.

About Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, institutional investors in the debt and private capital markets, and alliances and redistributors. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $378 billion in AUMA as of Dec. 31, 2025. The Company operates through wholly-owned subsidiaries in 32 countries. For more information, visit www.morningstar.com/company. Follow Morningstar on LinkedIn @Morningstar.

About Alta Trust Company

Alta Trust Company is a South Dakota chartered trust company that acts as the trustee of Foundation Series CITs. The Foundation Series CITs are not registered with the Securities and Exchange Commission. The Declaration of Trust for the Foundation Series CITs describes the procedures for admission to and withdrawal from the CITs. The Declaration of Trust and the Investor Disclosure, sometimes referred to as the Fund’s Employee Benefit Summary, together with the fact sheet, describe each CIT in the series. A copy of these documents may be obtained by contacting Alta Trust at info@trustalta.com.

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Contacts

Landon Hudson, +1 312 697-6037 or newsroom@morningstar.com