Sat, 27 Aug 2016
A prudent process, experienced team, and rock-bottom fees earn Vanguard Tax-Managed Balanced a Morningstar Analyst Rating of Gold.
May flows data show investors are putting money to work in nontraditional fixed-income holdings, as well as emerging-markets equities, for perceived better returns.
Below-average returns don't shake Morningstar analysts' confidence in some funds, while recent outperformance doesn't grant higher ratings to others.
Morningstar's Dan Culloton weighs in on the company's flows, new products, manager changes, and performance so far this year.
The fund giant saw an executive-management shuffle, ultra-short- bond fund launch, new lower-touch advisory service, and continued inflow domination.
It was tough for active managers to outpace Vanguard's low-cost index funds in 2014, and many of its active funds also outperformed.
As yields rose, both taxable- and municipal- bond funds saw record monthly redemptions in absolute terms in June.
Most Vanguard funds delivered another solid year in 2013, but management changes and a shift out of its fund comfort zone are things to watch this year.
Interest in dividend-paying stocks and bonds remained high as the market eyed the Fed.
Moving in the right direction.
While a majority of our top fund managers are outperforming this year, three of them truly stand out from the rest given their ability to outperform the market over all time periods.
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