Morningstar Fund Ratings: Weekly Round-up

ANALYST RATINGS: This week Morningstar analysts reveal new ratings for Baillie Gifford and downgrades for JPM and Capital Group

Morningstar Analysts 4 June, 2019 | 10:41AM
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New Ratings

Baillie Gifford Japanese Income Growth – Bronze

David Holder

Baillie Gifford Japanese Income Growth is a solid choice for core Japanese equity exposure, and we are initiating coverage with a Morningstar Analyst Rating of Bronze. Baillie Gifford applies a collegial approach to investment. Ideas drawn from across this well-resourced team, with Matt Brett and Karen See responsible for portfolio construction. Stocks are selected on bottom-up analysis, unconstrained by sector or index considerations. There is a leaning to underappreciated growth while keeping a close eye on dividend discipline. Such a balance makes this a fairly core offering in the Japanese equity space. Finally, the fees that investors pay here are competitive versus peers.   


JPM Natural Resources - Neutral

JPM Global Natural Resources – Neutral

Peter Brunt

While there are positives in the form of an experienced management team and extensive analytical support, we have not seen these translate to the high standards we expect of a positively rated strategy. Sensible changes to the investment approach through 2015 increased the focus on stock selection, but this has had mixed results, particularly in a risk-adjusted context. We are therefore lowering its Morningstar Analyst Rating to Neutral from Bronze.

Capital Group Japan Equity – Neutral

Peter Brunt

The exit, without replacement, of one of the individual managers on Capital Group Japan Equity marks not only a loss in experience but also a departure from the strategy's long-standing investment principles. We have therefore lowered the Morningstar Analyst Rating to Neutral from Bronze to reflect our lower level of conviction.



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
Baillie Gifford Japanese Inc Gr B £ Inc133.83 GBP-1.52Rating
Capital Group Japan Eq (LUX) Z18.12 EUR-1.43Rating
JPM Global Natural Resources A (acc) GBP147.55 GBP-0.03Rating
JPM Natural Resources C Net Acc11.05 GBP-0.36Rating

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