CHICAGO, Oct. 10, 2016 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, has published a summary of Morningstar Analyst Rating™ activity for 99 U.S. funds that occurred in September 2016. The Morningstar Analyst Rating for funds represents Morningstar's conviction in the fund's ability to outperform on a risk-adjusted basis over the long term. The five-tiered, qualitative Morningstar Analyst Rating scale has three positive levels, indicating Morningstar Medalists—Gold, Silver, and Bronze—in addition to Neutral and Negative ratings.
In September, Morningstar manager research analysts upgraded four U.S. funds and downgraded ratings for five funds. In addition, analysts affirmed ratings for 51 funds, assigned 38 new fund ratings, and placed one fund under review.
As of Sept. 30, 2016, Morningstar analysts had assigned a Morningstar Analyst Rating of Gold to 124 unique U.S. funds, a Silver rating to 234 funds, a Bronze rating to 426 funds, a Neutral rating to 318 funds, and a Negative rating to eight funds. Morningstar Medalists currently account for approximately 10 percent of unique mutual funds available for sale in the United States and 59 percent of assets under management. Morningstar's manager research analysts rate more than $9.7 trillion of U.S. investor assets, or approximately 67 percent of total investor assets in the United States.
The following Morningstar Analyst Rating changes occurred in September 2016:
Previous Morningstar Analyst Rating |
Current Morningstar Analyst Rating |
|
Upgrades |
||
Fidelity Extended Market Index Investor |
Silver |
Gold |
Metropolitan West Unconstrained Bond |
Neutral |
Bronze |
PIMCO High Yield |
Bronze |
Silver |
Principal Global Multi-Strategy |
Neutral |
Bronze |
Downgrades |
||
Boston Partners Long/Short Equity |
Silver |
Bronze |
Fairholme |
Silver |
Neutral |
Invesco International Small Company |
Silver |
Bronze |
Prudential Jennison 20/20 Focus |
Bronze |
Neutral |
Touchstone Sands Capital Institutional Growth |
Silver |
Bronze |
New Ratings |
||
361 Managed Futures Strategy |
None |
Neutral |
AB Growth and Income |
None |
Neutral |
AB Large Cap Growth |
None |
Neutral |
Abbey Capital Futures Strategy |
None |
Bronze |
AC Alternatives Market Neutral Value |
None |
Bronze |
American Century Equity Growth |
None |
Neutral |
American Century Income & Growth |
None |
Neutral |
American Funds Tax-Exempt Fund of California |
None |
Bronze |
BlackRock Balanced Capital |
None |
Neutral |
BlackRock Global Opportunities |
None |
Neutral |
BlackRock Small Cap Growth II |
None |
Neutral |
ClearBridge Mid Cap |
None |
Bronze |
Eaton Vance Richard Bernstein Equity Strategy |
None |
Neutral |
Eaton Vance Tax-Managed Global Dividend Income |
None |
Neutral |
Federated Clover Small Value |
None |
Neutral |
Fidelity Advisor Equity Growth |
None |
Neutral |
Hartford World Bond |
None |
Bronze |
Janus Research |
None |
Neutral |
JHancock Balanced |
None |
Bronze |
JPMorgan Global Allocation |
None |
Bronze |
JPMorgan Growth Advantage |
None |
Bronze |
JPMorgan Intrepid Growth Select |
None |
Neutral |
JPMorgan Small Cap Equity |
None |
Bronze |
Loomis Sayles Value |
None |
Bronze |
Lord Abbett Affiliated |
None |
Neutral |
MainStay High Yield Municipal Bond |
None |
Bronze |
MainStay Tax-Free Bond |
None |
Bronze |
MFS Aggressive Growth Allocation |
None |
Bronze |
MFS Conservative Allocation |
None |
Bronze |
MFS Growth Allocation |
None |
Bronze |
MFS Moderate Allocation |
None |
Bronze |
Neuberger Berman Strategic Income |
None |
Bronze |
Oppenheimer Global Strategic Income |
None |
Neutral |
Putnam Equity Income |
None |
Bronze |
Putnam Fund for Growth & Income |
None |
Neutral |
USAA Intermediate-Term Bond |
None |
Neutral |
Wells Fargo Large Cap Core |
None |
Neutral |
Wells Fargo Opportunity |
None |
Neutral |
Under Review |
||
Fidelity Leveraged Company Stock |
Bronze |
Under Review |
A list of the Analyst Ratings for 51 U.S. funds that Morningstar affirmed in September is available here.
A summary of last month's Morningstar Analyst Rating changes for U.S. mutual funds is available on Morningstar.com in the latest Fund Spy: Medalist Edition here.
Morningstar launched its Analyst Rating for funds and Global Fund Reports in November 2011. Morningstar Medalists—Gold-, Silver-, and Bronze-rated funds—are funds that analysts determine are likely to outperform their peer groups and/or relevant benchmarks on a risk-adjusted basis over a market cycle of at least five years. The differences between the positive ratings indicate the level of the analyst's conviction in a fund's future performance. Analysts arrive at a rating through an evaluation of five key pillars: People, Process, Parent, Performance, and Price. The Analyst Rating methodology is available here.
To view a complete list and supporting analysis for Analyst Ratings for U.S. funds, please visit www.morningstar.com. Premium Members have access to a Morningstar Medalists screener, where users can sort funds by Morningstar Rating, Morningstar Analyst Rating, Fund Family, Manager Tenure, Expense Ratio, and other metrics. Morningstar's Global Fund Reports, in-depth research reports that include a wealth of data and analysis, are available in Morningstar DirectSM, the company's web-based global investment analysis platform for institutional investors, and in Morningstar OfficeSM, a global practice and portfolio management solution for advisors.
Morningstar has approximately 115 manager research analysts worldwide who cover approximately 4,000 funds. The company provides data on approximately 205,600 open-end mutual funds, 10,300 closed-end funds, and 13,900 exchange-traded product listings as of June 30, 2016.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research 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 retirement plan providers and sponsors. Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on nearly 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $185 billion in assets under advisement and management as of June 30, 2016. The company has operations in 27 countries.
Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Morningstar analysts' current expectations about future events and therefore involve unknown risks and uncertainties that may cause Morningstar's expectations not to occur or to differ significantly from what was expected. Morningstar does not represent its Analyst Ratings to be guarantees nor should they be viewed as an assessment of a fund's or the fund's underlying securities' creditworthiness. This press release is for informational purposes only; it should not be considered an offer or solicitation to buy or sell the mutual funds noted within.
©2016 Morningstar, Inc. All rights reserved.
MORN-R
Media Contact:
Mary Kenefake, +1 312-348-3089 or [email protected]
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SOURCE Morningstar, Inc.
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