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Morningstar Fund Ratings: Weekly Round-up

ANALYST RATINGS: Fund analyst updates on Vanguard LifeStrategy funds, and why the team has downgraded Allianz European equity funds

Morningstar Analysts 30 May, 2017 | 12:37PM

New Ratings

Vanguard LifeStrategy 20% EquityGold

Vanguard LifeStrategy 40% EquityGold

Vanguard LifeStrategy 60% EquityGold

Vanguard LifeStrategy 80% EquityGold

Randal Goldsmith

Launched at the end of June 2011, this UK range follows the same approach as the longer running US version, whose funds each have a Morningstar Analyst Rating of Gold, but the asset allocation is tailored to the UK investor and has a more global emphasis. We like the very competitive charging, which reflects the simplicity of the approach and Vanguard’s commitment to pass on savings to investors from scale economies as the size of the range grows.

Downgrades

Allianz Euroland Equity Growth – Neutral

Barbara Claus

Lead manager Matthias Born will leave Allianz Global Investors in September 2017. The new manager, Andreas Hildebrand, has been with the team since 2011, including four years as deputy manager of the fund. He has no track record as a lead manager on a comparable fund, making him considerably less experienced than his predecessor. For a positive rating, we will need to see more evidence on how the new manager settles in.

Allianz Europe Equity GrowthBronze

Barbara Claus

Lead manager Matthias Born will leave Allianz Global Investors in September 2017. Thorsten Winkelmann, co-leader of AllianzGI’s European Growth team, will remain lead manager of the strategy. Born’s departure will be a loss for the team, but Winkelmann and his colleagues ensure continuity. We express our more-cautious stance by moving the fund’s rating down one notch to Bronze from Silver.

Allianz Europe Equity Growth SelectBronze

Barbara Claus

Lead manager Matthias Born will leave Allianz Global Investors in September 2017. Thorsten Winkelmann, co-leader of AllianzGI’s European Growth team, will manage the fund together with the former deputy manager, Robert Hofmann. Born’s departure will be a loss for the team, but Winkelmann and his colleagues ensure continuity.

 

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