Morningstar Downgrades BlueBay High Yield Bond to Silver

FUND RESEARCH UPDATE: Fund rating downgraded to Silver

Jeremy Beckwith 2 April, 2015 | 6:00AM
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Following a recent Morningstar Analyst Ratings Committee meeting, we have lowered the Morningstar Analyst Rating™ for BlueBay High Yield Bond to Silver. The fund previously held a Morningstar Analyst Rating of Gold. Though we still believe in the management and analyst team, some recent credit selection stumbles have led us to re-consider maintaining our highest conviction rating. The fund’s long-term record continues to place it among the very best in its peer group, but it has trailed the competition in recent years, in part thanks to stakes in two issuers which suffered bankruptcies. We continue to believe that the fund’s experienced management team and large analyst stable can generate long-term outperformance, but are less certain as to the level of consistency with which they can do so.

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
BlueBay High Yield ESG Bond R EUR283.12 EUR0.16Rating

About Author

Jeremy Beckwith  is Director of Manager Research for Morningstar UK

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