Morningstar Fund Ratings: Weekly Round-up

Comgest and GQG Partners are added to Morningstar's stable of rated funds while Lazard Apha Euro is downgraded 

Mathieu Caquineau, CFA 13 August, 2019 | 8:59AM
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analyst rating

New Ratings

Comgest Growth Europe ex. UK - Gold

Mathieu Caquineau

We have initiated the coverage of Comgest Growth Europe ex UK with a Morningstar Analyst Rating of Gold. While the history of this fund since its launch in 2014 is not the longest, the track record of the strategy in the Pan European universe is much longer, and Comgest Growth Europe already carries a Morningstar Analyst Rating of Gold.

This fund benefits from the same robust investment process, geared towards quality growth stocks and executed with discipline. The team of eight fund managers/analysts is stable, experienced, and cohesive. Given the strict stock-picking criteria, the investment universe is relatively restricted. Each analyst/manager only provides in-depth research on a dozen stocks, and each company within the universe is covered by at least two team members. All of Comgest’s European equity funds are managed by this team with the same investment strategy.

GQG Partners Emerging Markets Strategy - Silver

Mathieu Caquineau

We have initiated coverage of GQG Partners Emerging Markets Equity with a Morningstar Analyst Rating of Silver. This fund's parent firm, GQG Partners, was created by Rajiv Jain in mid-2016 after he left Vontobel Asset Management. At Vontobel, Jain built an enviable long-term record with the same "quality growth" approach. He looks for companies with steady growth; a manageable amount of debt, if any; proven leadership with a record of prudent capital allocation; and a history of weathering tough economic conditions. There are some uncertainties, though, such as the relatively short collaboration between him and the nine analysts he's hired and a significant workload. Jain is sole manager of four strategies, and the full analyst team reports to him. But all in all, this strategy is an attractive option considering Jain’s strong credentials.

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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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About Author

Mathieu Caquineau, CFA

Mathieu Caquineau, CFA  Senior Fund Analyst, Morningstar France