Morningstar Fund Ratings: Weekly Round-up

Funds focused on Japan and Europe are among those upgraded in this week's sweep of rating changes by Morningstar analysts 

Patrick Ge 28 April, 2020 | 10:04AM
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analyst rating

New Ratings

JPM Income – Neutral

Patrick Ge

We have initiated coverage on the SICAV vehicle of JPM Income. The strategy is a flexible income oriented multi-sector bond fund that is helmed by veteran managers Andrew Norelli and Drew Headley. While the pair are experienced investors within their specializations – Norelli in emerging markets debt and Headley in mortgages – they don’t have a lengthy track record running a diversified bond strategy with a hefty risk appetite.

The investment menu is broad and relies on the managers to tap into the firm’s broad fixed income research to identify higher income-generating fixed-income sectors. Whether this team is able to harness available resources and translate the portfolio’s flexibility into advantageous positionings across a variety of market environments requires time to evaluate.  As such, the strategy’s cheaper share classes earn a Morningstar Analyst Rating of Neutral while pricier share classes are rated Negative.

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About Author

Patrick Ge  is an Analyst on the Morningstar Manager Research team