Morningstar Fund Ratings: Weekly Round-up

ANALYST RATINGS: This week Morningstar analysts reveal upgrades for JPMorgan and AXA

Morningstar Analysts 14 May, 2019 | 9:06AM
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New Ratings

Alger Small Cap Focus - Silver

Jeffrey Schumacher

We have initiated coverage on Alger Small Cap Focus with a Morningstar Analyst Rating of Silver. The fund benefits from an experienced manager and a distinctive approach. Portfolio manager Amy Zhang, who has been a key contributor for 12-plus years at Gold-rated Brown Capital Management Small Company, has taken the reins here since February 2016. She is a small-cap expert who runs this fund with a dedicated close-knit team. Zhang’s approach to small-cap investing stands out. Rather than focusing on market cap, she defines her universe in terms of revenues, focusing on firms with operating revenues of $500 million or less whose differentiated products or services satisfy emerging needs. This focus points Zhang and her team to innovative healthcare and technology names, which as of March 2019, comprised over 80% of assets in the 50-stock portfolio. Thus far, Zhang is off to a great start. Through April 2019, the fund’s 27.2% annualized gain almost doubled the Russell 2000 Growth Index’s and was one of the US small-cap equity Morningstar Category’s top performers. This outperformance hasn’t gone unnoticed, as investors have been pouring into the fund, and as of March 2019, strategy assets totalled $3.5 billion. Zhang has indicated an eye on capacity management, so the fund could close soon.  

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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
Alger Small Cap Focus I US35.84 USD1.18Rating
AXA Global High Income Z Gross Acc249.10 GBP-0.08Rating
JPM Emerging Markets C Net Acc13.12 GBP0.85Rating
JPM Emerging Markets Equity A (acc) EUR28.29 EUR1.25Rating

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Morningstar Analysts   -