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New Covenant

New Covenant Parent Rating

Average

In a competitive industry, New Covenant does n't differentiate itself enough, leading to an Average Parent Pillar rating.

Longevity at the firm has been impressive. Its three-year risk-adjusted success ratio is 75%, meaning that 75% of the products have both survived and beaten their respective category median on a risk-adjusted basis. A high success ratio indicates good performance and provides insight into a firm’s discipline around investment strategy and product development. New Covenant's risk-adjusted performance compares similarly to competitors. Across its open-end and exchange-traded funds, the firm’s average five-year Morningstar Rating is 3.5 stars, which is about standard. Portfolio management turnover at New Covenant is higher than at peer firms, detracting from the overall assessment of the firm's stewardship. Turnover in the portfolio-management ranks can happen for a number of reasons, including mergers and liquidations, portfolio managers moving into other roles, or portfolio managers leaving the firm. In some cases, such change may not signal a serious or immediate problem at the firm, but can still be disruptive for investors, hinder the effectiveness of a firm’s investment processes, or suggest a weaker investment culture.

New Covenant Investments

Market

US Open-end ex MM ex FoF ex Feeder

Total Net Assets

849.51 Mil

Investment Flows (TTM)

−79.96 Mil

Asset Growth Rate (TTM)

−9.17%

# of Share Classes

4
Morningstar Rating # of Share Classes
0
2
2
0
0
Not Rated 0

Morningstar Mentions

A top fixed-income manager at Pimco discusses the possibility of a soft landing, the prospects for lower-quality bonds, and key lessons from a challenging bond market.

Quick Definitions: Key Morningstar Terms

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