Morningstar Fund Ratings: Weekly Round-up

The latest batch of Morningstar fund rating changes features two new ratings and an upgrade from Bronze to Gold for a PIMCO bond fund

Samiya Jmili 20 October, 2020 | 9:10AM
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Fund Ratings

New Ratings

DWS Invest Multi Opportunities – Silver

Thomas De Fauw

DWS Invest Multi Opportunities benefits from a strong portfolio management team and flexible approach. The strategy is identical to the longer-running Deutsche Multi Opportunities that we covered since 2019. Both have a Morningstar Analyst Rating of Silver for the cheapest share classes, while pricier shares are rated Neutral. We hold the team in high regard, although recent changes to portfolio responsibilities prompt a degree of caution. Lead manager Henning Potstada has proven to be a skilful investor. However, because of his relatively weaker stock selection results since mid-2010, portfolio responsibilities have recently been shared with comanagers Christoph Schmidt, who is now in charge of the equity selection and Thomas Graby, who oversees the safe-haven bucket. The team has developed a distinct approach over time. The managers have added value through their top-down allocation and by identifying investment themes. The fund is set up with a fund-of-funds structure and has to invest a minimum of 51% into funds. Usually, in-house funds or exchange- traded funds are used to avoid double charging. 

FvS Multiple Opportunities – Gold

Natalia Wolfstetter

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Samiya Jmili  Samiya Jmili is a manager research analyst at Morningstar 

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