Ratings Changes for Funds From Artisan, GoodHaven, JP Morgan, and BlackRock
Our assessment of management and management changes fueled two upgrades and two downgrades recently.
Since we launched the Morningstar Analyst Ratings in late 2011, we're often asked when, why, and how often those ratings change for individual funds. The short answer is that we do not expect our ratings on individual funds to change all that often.
In assigning the initial rating, we take a close look at five pillars--People, Process, Parent, Performance, and Price. In our experience, those fundamentals are not likely to change frequently--and it is generally a red flag if they do. Our analysts are responsible for monitoring each of the ratings they assign on an on-going basis and for incorporating new information into their analyses as appropriate. In some cases, new information, while valuable, does not necessarily move the needle. Below we highlight a few recent examples of when it has.
Michael Herbst does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.