OYSTER European Corporate Bonds - Neutral

FUND RESEARCH UPDATE: Fund Rating downgraded to Neutral

Francesco Paganelli 4 March, 2015 | 5:31PM
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We have downgraded the OYSTER European Corporate Bonds fund to a Morningstar Analyst Rating™ of Neutral. The fund previously held a Bronze rating. While we value the investment team’s experience and stability, we think that the number of resources available to the manager is low, especially in light of the strongly opportunistic approach that leads to pronounced bets and to the construction of a relatively concentrated portfolio where the top 10 bonds usually represent around 25% of the fund’s assets. The fund is also 40 basis points more expensive than the median fund in the category. Finally, its long-term results should be taken with caution in our view, as the fund’s assets were below EUR 50 million (compared with the current EUR 500 million in AUM) until mid-2009.

See the latest Morningstar OBSR fund rating news here.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
OYSTER European Corporate Bds C EUR280.17 EUR-0.16Rating

About Author

Francesco Paganelli  is a Fund Analyst for Morningstar in Italy