Note: This video is being re-featured as part of Morningstar's December 2014 Guide to Better Investment Picking special report. This video originally appeared in 2013.
Jason Stipp: I'm Jason Stipp for Morningstar. A big component of our research for mutual funds is the Morningstar Medalist rating. These are funds that we think have an edge over their peers over the longer term. Here to give us some detail on the Medalist designation is Michael Herbst, a director of mutual fund research here at Morningstar.