Upright

A source of strength is that the firm has been adept at retaining portfolio management talent, providing continuity for strategies, as proven by low turnover over the past five years compared with others in the industry. Open-end and exchange-traded fund fees are a weakness at the firm, contributing negatively to the rating. On average, the firm charges fees on its funds that are in the highest quintile of category peers. With the current market environment of fee compression, this is cause for concern, as investors may flock to alternate asset managers over time to get a better deal. The Upright roster of open-end and exchange-traded funds has had below-average risk-adjusted performance, as evidenced by its average three-year Morningstar Rating of 1.0 stars.