Morningstar Fund Ratings: Weekly Round-up

ANALYST RATINGS: This week Morningstar analysts reveal downgrades for Woodford Equity Income and Franklin US Opportunities

Morningstar Analysts 20 May, 2019 | 3:15PM
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LF Woodford Equity Income – Neutral

Peter Brunt

Persistent redemptions, underperformance, and stock-specific issues, combined with the manager's relentless willingness to push the portfolio to its liquidity limit, have resulted in portfolio positioning that we consider extreme. We are therefore lowering the strategy's Morningstar Analyst Rating to Neutral from Bronze.

Franklin US Opportunities – Neutral

Fatima Khizou

Franklin US Opportunities’ growth approach to investing has consistently produced returns that have trailed the comparative benchmark on both absolute and risk-adjusted terms. A combination of poor stock-picking, underestimation of risk in some segments of the market, and weaker sell discipline is the reason behind the strategy’s poor showing over the short, medium, and long term. This outcome has diminished our conviction in the strategy, and we have therefore downgraded the Morningstar Analyst Rating to Neutral from Bronze.



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
FTF Franklin US Opportunities W Acc5.63 GBP0.21Rating
LF Equity Income C Sterling Acc0.98 GBP0.00

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