Morningstar Fund Ratings: Weekly Round-up

An Amundi Latin America ETF and a number of JPMorgan funds are upgraded in this week's sweep of rating changes by Morningstar analysts 

Briegel Leitao 21 April, 2020 | 10:53AM

analyst rating

Upgrades

Amundi IS MSCI EM Latin America ETF (ALAG)  – Bronze from Neutral

Briegel Leitao

Amundi IS MSCI EM Latin America ETF remains the cheapest option for investors looking to gain passive exposure to the wide Latin American equity market. In line with our new methodology which places a stronger focus on fees, the fund has been awarded a Morningstar Analyst rating of Bronze, up from Neutral, indicating our conviction in the fund’s ability to outperform its category peers going forward. The fund tracks the performance of the MSCI Emerging Markets Latin America Index, a free-float market cap-weighted index covering 6 emerging market countries in the Latin America region, including Brazil, Mexico, Colombia, Peru, and new addition Argentina.

In 2019, MSCI upgraded Argentina to ‘Emerging’ status, where it had previously been classified as ‘Frontier’. Despite this index expansion, the fund still carries significant country concentration risk with 80+% allocation to the two largest member countries, Brazil and Mexico. With a 0.20% charge, the fund is the preferred option for investors looking to gain passive Latam equity exposure. Other passive funds in this category range from 0.60-0.74%, giving context to just how competitive the Amundi offering is.

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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.

About Author

Briegel Leitao  is Associate Analyst of Passive Strategies at Morningstar UK

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