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June 22, 2018 at 02:16 PM
Morningstar published a summary of Morningstar Analyst Rating activity for 173 U.S. open-end mutual funds, exchange-traded funds and two target-date series that occurred in May.
Morningstar’s research analysts assigned new ratings to five funds and upgraded ratings for 11 funds, including two funds to Gold from Silver, Harbor Bond and MFS Value.
“MFS Value was raised to Gold from Silver for the longtime managers’ sound execution of a straightforward process. The fund’s quality- and long-term orientation has been a strength, especially in down markets, and that process has delivered,” Laura Pavlenko Lutton, Morningstar’s director of manager research for North America, said in a statement. “Also moving from Silver to Gold is Harbor Bond, which is subadvised by Pimco. Our confidence in the fund’s leadership has grown as the management team has handled outflows well and has successfully positioned the portfolio. This offering’s reasonable price is especially compelling.”
Analysts also downgraded ratings for 10 funds, affirmed ratings for 141 funds and two target-date series, and placed six funds under review.
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.
