3 Funds That Have Lost Their Mojo
These former Morningstar Medalists have all been downgraded due to significant manager changes.
Susan Dziubinski: Hi, I'm Susan Dziubinski for Morningstar.com. We award Gold, Silver and Bronze Morningstar Medalist ratings to those funds we think are most likely to outperform during a full market cycle. However, we may increase or decrease a fund's analyst rating due to changes in a fund's process, expected performance, management, or price. Today, we are taking a look at three former medalist funds that have been downgraded to Neutral during the past few months.
Patricia Oey: We've long had a favorable view of George Cipolloni and Mark Saylor, who together have run Berwyn Income since 2007. They employed a go-anywhere contrarian approach to this conservative-allocation income fund, and they generated strong results with good downside protection, with returns coming from both asset allocation and securities selection.
Gregg Wolper does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.