Fund Spy: Morningstar Medalist Edition

May Brings More Upgrades Than Downgrades

Shannon Yan

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
 MFS Value (MEIAX) was raised to Gold from Silver for longtime lead manager Steven Gorham’s sound execution of a straightforward process. The fund’s quality- and long-term orientation has been a strength in down markets, and that resilience largely explains its solid record relative to the benchmark over Gorham’s tenure. The fund’s $80 billion asset base bears watching, but MFS has thus far limited new institutional accounts. Competitive fees also help.

Shannon Yan does not own shares in any of the securities mentioned above. Find out about Morningstar's editorial policies.