Morningstar Fund Ratings: Weekly Round-up

It's a busy week for Morningstar Analyst rating changes, with two upgrades and five downgrades

Matias Möttölä, CFA 10 November, 2020 | 2:59PM

morningstar rating

New Ratings

BGF ESG Multi-Asset – Neutral

Matias Möttölä

We have initiated coverage on the BGF ESG Multi-Asset fund from BlackRock with a Morningstar Analyst Rating of Neutral for its clean share classes. The fund was transformed into an ESG offering in March 2019. Within equities, a combination of industry exclusions amd screens based on MSCI’s ESG ratings lead to a best-in-class portfolio which tends to have a slight quality tilt. Bolstering the fund’s ESG credentials are also a list of impact investments such as social housing and renewables. Although we think the biases resulting from the ESG investments have been kept well in control so far, we think it’s still early to gain conviction in the renewed process. Same goes for the two portfolio managers Jason Byrom and Colin McKenzie who are backed by a solid team and have access to vast resources within the organization, but took over the fund only in May 2018.

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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

Matias Möttölä, CFA

Matias Möttölä, CFA  is a fund analyst and editor of Morningstar.fi.

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