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Fund Spy: Morningstar Medalist Edition

Downgrades Again Outnumber Upgrades

A diverse set of funds saw changes to their Analyst Ratings in May.

Mentioned: , , , , , , , , ,

May was a relatively quiet month in terms of changes to the Morningstar Analyst Ratings. We upgraded just two funds last month, while we downgraded eight offerings and initiated coverage on three funds. The table below lists all of the affected funds; we summarize the most noteworthy changes here.

Upgrades 
 BlackRock Multi-Asset Income (BAICX), which switched to a risk-averse income-oriented strategy in late 2011, has a number of factors in its favor. Its current strategy is inherently sound and has real appeal. Its management team has produced strong results with this approach so far: Besides holding up well in the few shorter-term sell-offs it has encountered thus far and suffering relatively modest overall volatility, this tactical-allocation fund has comfortably outgained its average peer during the 3.5 years that the current team and strategy have been in place. This fund also has a relatively attractive expense ratio going for it. Thus, its Morningstar Analyst Rating was raised to Bronze from Neutral. 

William Samuel Rocco does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.