Morningstar Fund Ratings: The Weekly Update

We're back with another roster of fund rating changes, including two new ratings and one downgrade

Hunter Beaudoin 22 September, 2022 | 10:08AM
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DWS Multi Opportunities FC – Silver from Bronze

Thomas De fauw

DWS Multi Opportunities continues to benefit from a strong portfolio management team and a proven approach. Although we retain both the People and Process Pillar scores at Above Average, rating changes among rivals mean that the fund's Morningstar Analyst Rating jumps from Bronze to Silver for its clean FC and TFC share classes. Other cheaper share classes maintain their Morningstar Analyst Rating of Silver, while its pricier shares are rated Bronze and Neutral.

Moved to Under Review

Columbia Threadneedle UK Equity Income Z – Under Review from Silver

Daniel Haydon

Columbia Threadneedle announced that Richard Colwell will retire from the firm and the industry effective at the end of November 2022. As sole lead manager of the UK Equity Income fund, and Head of the UK Equities desk, Colwell’s imminent departure is a material change. Upon his retirement, his portfolio manager responsibilities on this mandate will transfer to team veteran and Head of UK Equity Research, Jeremy Smith, with Jonathan Barber staying as deputy PM. Smith will also become co-Head of the UK Equity desk.

The team is in advanced stages of recruitment to further bolster the ranks with another Senior PM hire, who will focus on UK equity income mandates. In light of these changes, we have moved the CT UK Equity Income fund from a Silver Morningstar Analyst Rating to Under Review, and will report our updated view in the coming weeks. We typically prefer to have a much longer runway for notable retirements such as this, and more transparency regarding eventual leadership of the strategy is also usually expected. We will make a full assessment on how transition planning has been executed here, but overall team structure and depth of resources remain a positive attribute.

Jupiter Multi-Asset Income – Under Review from Neutral

Tom Mills

This strategy was placed Under Review following the announced departure of the lead portfolio manager. Talib Sheikh, head of multi-asset at Jupiter, will leave the firm by the end of 2022. This comes as a result of Jupiter's decision to restructure its fund range, announced by its incoming CEO Matt Beasley. Sheikh acts as lead manager on multi-asset funds including Jupiter Multi-Asset Income, supported by investment manager Joseph Chapman who will also be leaving Jupiter. Sheikh joined Jupiter in 2018, and took over management of Jupiter Multi-Asset Income in January 2021, instigating changes to its approach. Jupiter intends to continue the fund under a different manager setup, with a handover of responsibilities by Sheikh, but has not yet confirmed its transition plan for the fund. In light of these changes, we are placing the fund Under Review and will report our updated view in the coming weeks.


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.

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Hunter Beaudoin  is a fund analyst for Morningstar

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