CHICAGO, Aug. 14, 2017 /PRNewswire/ -- Morningstar, Inc.
(NASDAQ: MORN), a leading provider of independent investment
research, has published a summary of Morningstar Analyst Rating™
activity for 107 U.S. mutual funds and exchange-traded
funds (ETFs) and one target-date series that occurred in
July 2017. 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 July, Morningstar's Manager Research Group assigned new
ratings to 25 funds. In addition, analysts upgraded ratings for six
funds, downgraded ratings for four funds and one target-date
series, affirmed ratings for 71 funds, and placed one fund under
review.
As of July 31, 2017, Morningstar
analysts had assigned a Morningstar Analyst Rating of Gold to 140
unique U.S. funds, a Silver rating to 340 funds, a Bronze rating to
553 funds, a Neutral rating to 596 funds, and a Negative rating to
13 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 approximately $11 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
July 2017:
|
Previous
Morningstar
Analyst
Rating
|
Current
Morningstar
Analyst
Rating
|
New Morningstar
Medalists
|
|
|
Fidelity US Bond
Index
|
None
|
Bronze
|
iShares 0-5 Year High
Yield Corporate
Bond ETF
|
None
|
Bronze
|
iShares MBS
ETF
|
None
|
Bronze
|
MainStay
Convertible
|
None
|
Bronze
|
Schwab Short-Term US
Treasury ETF
|
None
|
Silver
|
Vanguard
Intermediate-Term
Government Bond Index Fund
|
None
|
Silver
|
Vanguard Short-Term
Government Bond
ETF
|
None
|
Silver
|
Wells Fargo Core Plus
Bond
|
None
|
Bronze
|
|
|
|
Upgrades
|
|
|
Harbor Mid Cap
Value
|
Bronze
|
Silver
|
Oppenheimer
International Small-Mid
Company
|
Neutral
|
Bronze
|
PIMCO Long Duration
Total Return
|
Bronze
|
Silver
|
Poplar Forest
Partners
|
Neutral
|
Bronze
|
Vanguard Global
Minimum Volatility
|
Bronze
|
Silver
|
Wells Fargo
International Equity
|
Neutral
|
Bronze
|
|
|
|
Downgrades
|
|
|
AllianzGI NFJ
Small-Cap Value
|
Silver
|
Bronze
|
American Century One
Choice Target-
Date Series
|
Bronze
|
Neutral
|
AMG Managers Montag
& Caldwell Growth
|
Bronze
|
Neutral
|
Touchstone Sands
Capital Institutional
Growth
|
Bronze
|
Neutral
|
Touchstone Sands
Capital Select Growth
|
Bronze
|
Neutral
|
|
|
|
Under
Review
|
|
|
Dreyfus/Standish
Global Fixed Income
|
Bronze
|
Under
Review
|
A complete list of the new Analyst Ratings for 25 U.S. funds
that Morningstar assigned in July is available here. A list of the
Analyst Ratings for 71 U.S. funds that Morningstar affirmed in July
is available here.
A summary of last month's Morningstar Analyst Rating changes for
U.S. 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 for mutual
funds is available here and for ETFs 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 130 manager research analysts
worldwide who cover approximately 4,420 funds. The company provides
data on approximately 223,000 open-end mutual funds, 11,000
closed-end funds, and 14,500 exchange-traded product listings as of
June 30, 2017.
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, retirement plan providers and sponsors, and
institutional investors in the private capital markets. Morningstar
provides data and research insights on a wide range of investment
offerings, including managed investment products, publicly listed
companies, private capital markets, and real-time global market
data. Morningstar also offers investment management services
through its investment advisory subsidiaries, with more than
$200 billion in assets under
advisement and management as of June 30,
2017. The company has operations in 27 countries.
Morningstar's Manager Research Group consists of various
wholly owned subsidiaries of Morningstar, Inc. including, but not
limited to, Morningstar Research Services LLC. Analyst Ratings are
subjective in nature and should not be used as the sole basis for
investment decisions. Analyst Ratings are based on Morningstar's
Manager Research Group's current expectations about future events
and therefore involve unknown risks and uncertainties that may
cause such expectations not to occur or to differ significantly
from what was expected. Analyst Ratings are not 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; references to securities in this press
release should not be considered an offer or solicitation to buy or
sell the securities.
©2017 Morningstar, Inc. All rights reserved.
MORN-R
Media Contact:
Mary
Kenefake, +1 312 348-3089 or
mary.kenefake@morningstar.com
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SOURCE Morningstar, Inc.