Morningstar Fund Ratings: Weekly Round-up

Three funds are downgraded by Morningstar analysts in this week's fund rating round-up

Mathieu Caquineau, CFA 16 July, 2019 | 9:50AM

analyst rating

Downgrades

BGF European  - Neutral from Silver

Ronald Van Genderen 

We are reinstating the Morningstar Analyst Rating at Neutral for BGF European, which was rated Silver before being put under review. As of mid-June 2019, Nigel Bolton and Brian Hall have relinquished their responsibilities on this strategy.

At the same time, Stefan Gries has taken over at the helm. With around six years, we consider him to be still relatively short on portfolio management experience. Our overall conviction is further reduced because of the continuous turnover and restructuring of the team supporting him.

Since 2016, we have seen 10 people, including experienced professionals, leave the team, which currently has 19 analysts and portfolio managers. The current members are less senior overall and have been changing roles and responsibilities because of the team’s instability.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

To view this article, become a Morningstar Basic member.

Register For Free

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.

About Author

Mathieu Caquineau, CFA

Mathieu Caquineau, CFA  Senior Fund Analyst, Morningstar France

Audience Confirmation


By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites
© Copyright 2020 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies