Morningstar analysts have taken a fresh look at nearly 100 funds, giving just one an upgrade. They downgraded a handful of funds, while giving 19 new ratings.
According to the Chicago-based research group, the Morningstar Analyst Ratings represent analysts’ views that a fund can outperform its peers on a risk-adjusted basis over the long term. The five-tiered, qualitative scale has three positive levels — Gold, Silver and Bronze — as well as neutral and negative ratings.
To put the latest ratings adjustments into perspective, Morningstar analysts have given a Gold rating to 132 funds, a Silver rating to 297 funds, a Bronze rating to 479 funds, a Neutral rating to 394 funds and a Negative rating to 10 funds.