Morningstar Fund Ratings: Weekly Round-up

ANALYST RATINGS: This week Morningstar analysts reveal new ratings for AllianceBernstein and downgrades for Jupiter and Fondita

Morningstar Analysts 9 April, 2019 | 12:24PM
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New Ratings

AB Select Absolute Alpha - Negative

Francesco Paganelli

We have initiated coverage of AB Select Absolute Alpha with a Morningstar Analyst Rating of Negative. This US-focused long-short equity strategy is led by veteran manager Kurt Feuerman, who has around two decades of experience running similar mandates, having moved to AllianceBernstein from previous hedge fund firm Caxton Associates. Concerns about team turnover and uncertainties associated with tactical net exposure management, however, limit our conviction in the strategy. On top of these concerns, this fund is very expensive: while its ongoing charges are broadly in line with its peers, a 20% performance fee – with no hurdle rate and a high-water mark resettable every two years – has a highly detrimental impact on performance. 

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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
Jupiter European Growth D GBP Acc26.48 GBP-0.26Rating
Jupiter European I Acc3,470.99 GBP-0.36Rating

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Morningstar Analysts   -