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May Brings More Upgrades Than Downgrades

We had 11 upgrades, 10 downgrades, and 143 affirmed ratings of funds and target-date series.

Shannon Yan Jun 11, 2018

In May, Morningstar manager research analysts affirmed the Morningstar Analyst Ratings of 141 funds and two target-date series, upgraded the ratings of 11 funds, downgraded the ratings of 10 funds, placed six funds’ ratings under review, and assigned new ratings to five funds. Below are some of May’s highlights, followed by the full list of ratings changes.

Upgrades

Increased confidence in

AOFIX management team drove an upgrade in its ratings to Silver from Bronze. Manager Amy Zhang helped to amass one of the small-growth category’s best risk-adjusted records at Gold-rated

Downgrades

Increasingly uncompetitive fees have taken some of the shine off

Concerns about

New Ratings

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About the Author

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Shannon Yan

Analyst

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Shannon Yan is a manager research analyst for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. She covers equity strategies.

Prior to her current role, Yan worked as a data analyst on the commodities and energy team and was also a product consultant for Morningstar Office, the firm’s platform for independent financial advisors. She joined Morningstar in 2014.

Yan holds a bachelor’s degree in economics and finance from Washington University in St. Louis. She is a Level II candidate in the Chartered Financial Analyst® program.

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