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
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analyst rating


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.

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About Author

Mathieu Caquineau, CFA

Mathieu Caquineau, CFA  Senior Fund Analyst, Morningstar France