Morningstar Fund Ratings: Weekly Round-up

The H2O Allegro fund is downgraded to a Negative Morningstar Analyst Rating this week, and a handful of other funds also suffer downgrades

Briegel Leitao 7 April, 2020 | 9:23AM
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analyst rating


Franklin Mutual Global Discovery - Silver from Bronze

Ronald Van Genderen 

This strategy underperformed most peers in the global large-cap value equity Morningstar Category and the MSCI ACWI Value category benchmark, but Franklin Mutual Global Discovery should do well when value bounces back as it boasts a veteran team and distinctive process. However, we maintain our conviction in lead portfolio manager Peter Langerman, who has been managing this strategy since December 2009, and the experienced 21-person Mutual Series team. The long-standing approach concentrates on firms' enterprise values, what each business line is worth, and potential catalysts. The strategy will own merger-arbitrage plays, which help the team keep tabs on what informed buyers are willing to pay and thus confers an advantage over other value-minded rivals. Under our enhanced ratings framework, which places a greater focus on fees and expected benchmark-relative performance, the Morningstar Analyst Rating for cheaper share classes is upgraded to Silver from Bronze. The ratings for more expensive share classes range from Bronze to Neutral.


Axa Aedificandi - Neutral from Silver

Ronald Van Genderen

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About Author

Briegel Leitao  is Associate Analyst of Passive Strategies at Morningstar UK

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