Morningstar’s 2022 Recommended Reading List
Our global manager researchers share their must-reads, -watches, and -listens for 2022.
Janet Yang Rohr, CFA
Janet Yang Rohr, CFA, is director of multiasset and alternative strategies for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. She is responsible for Morningstar Analyst Rating assignments for multiasset and alternative strategies globally and oversees a team of analysts who cover multiasset and alternative strategies. She also covers a variety of asset-allocation strategies, including target-date funds and 529 college-savings plans from John Hancock, State Street Global Advisors, BlackRock, and other asset managers.
Yang was a strategist, senior analyst, and director of Morningstar’s multiasset strategies manager research team before being appointed to her current role in 2016. Before joining Morningstar in 2010, Yang was vice president and investment product manager for multimanager funds and solutions as well as target-date funds for Northern Trust Global Investments in Chicago. She also served as a manager research analyst for Aon Investment Consulting, where she specialized in manager due diligence and the development of the practice’s quantitative research process.
Yang holds a bachelor’s degree in English and economics from Northwestern University and a master’s degree in business administration, with concentrations in finance and entrepreneurship, from the University of Chicago Booth School of Business. She also holds the Chartered Financial Analyst® designation. In 2014, Institutional Investor magazine named Yang among its Rising Stars of Mutual Funds.
Latest
Public Pensions Overwhelmingly Vote for ESG
Support crosses party lines, often exceeding that of ESG-focused funds.
Help Morningstar Name Its Allocation Categories
Changes to the allocation categories mean new names are in order.
A Target-Date Fund Series Wins Gold
But another series loses its medal.
No Ratings Downgrades for November
Nevertheless, it was a busy month for Morningstar Analyst Ratings.
Most Would Be Well Served by This 529 Plan
If your state doesn't offer a college savings plan tax benefit, Gold-rated Invest529 from Virginia is a good choice with low fees and a sensible mix of strategies.
An Eclectic Set of Tactical Allocation Medalists
Market timing generally detracts from this category's results, but there are a few funds we like.
Less Value in Utilities, REITs Today
Fidelity's Brett Sumsion has trimmed positions in higher-yielding sectors recently as the rest of the market gets more excited about them.
Funds Facing Succession Challenges
The departure of a long-tenured manager can leave big shoes to fill.
2 Top Income Funds
Principal Global Diversified Income and Hartford Balanced Income are worthwhile multiasset funds delivering both income and total return.
A Balanced Batch of New Allocation Fund Ratings
Balanced funds come in all shapes and sizes.
Time to Give Up on Multiasset Inflation-Protection Funds?
Despite disappointing results, there's still an argument for these distinctive funds.
Do Multiasset Volatility-Protection Funds Deliver?
A simple blended index can protect you better.
Absolute-Return Funds Aren't Hitting Their Mark
Investors would have generally done better in portfolios of passive investments than in target-return funds.
Will You Sacrifice Returns for Income?
Multiasset income funds often pursue yield at the cost of total return.
Do Objectives-Based Funds Deliver?
The results haven't matched the hype for objectives-based funds.
Hard to Beat These 2 College Savings Plans
The Utah Educational Savings Plan offers hands-on customization while the Vanguard 529 College Savings Plan works well for less-involved investors.
What New Allocation Categories Mean for Popular Funds
Morningstar's Janet Yang explains what the new classification system means for Vanguard Wellington, Dodge & Cox Balanced, the Fidelity Asset Manager series, and more.
A Better Way to Look at Allocation Funds
We're moving from the three-category conservative-, moderate-, and aggressive-allocation system to an expanded five-category framework for allocation funds.
Target-Date Funds: Good Behavior Leads to Better Results
Target-date funds' built-in discipline makes for an industry anomaly: positive investor return gaps.
Ratings Upgrades and Downgrades for U.S. Target-Date Series
An updated ratings methodology brings a few notable changes.
Seeking Exceptional Small Companies
The team at Brown Capital Management Small Company--Morningstar's 2015 Domestic-Stock Fund Manager of the Year--finds sustainable growth potential in firms that save time, lives, money, and headaches.
Fund Scorecard: Quality Is King During Market Shakeup
Funds with cyclical and high-yield exposure have had a rough start to 2016 as investors seek stability, but target-date funds should continue to improve investor returns.
What Morningstar Fund Analysts Are Reading
Here are a few current recommended readings from Morningstar’s manager research team.
Separating Skill From Luck in Active Management
Buy stock-pickers, avoid sector rotators: large-cap growth edition
Target-Date Funds: The Wallflowers Are Dancing This Year
So far in 2015, shorter-dated funds are outperforming longer-dated funds.
State Tax Perks and 529 Plans
Investors armed with the knowledge of their state’s tax benefits can readily narrow their 529 plan choices.
Capital Group Stays at the Top Through Hard Work
The equity side of American Funds' parent company remains among the best, and it's making strides with its fixed-income business.
How Have Allocation Funds Done This Year?
With their smaller equity stakes, conservative-allocation funds have performed best, while tactical-allocation funds have turned in the worst results.
Our 7 Favorite Target-Date Fund Charts
Highlights from Morningstar's 2015 target-date research through pictures and tables.
Investors Reap the Gains of Target-Date Funds
Asset managers do all right, too.
PIMCO Total Return Fired From Some Retirement Funds
Target-date funds haven't been immune from the question of whether to replace or retain the strategy following Bill Gross' departure.
American Funds Adapts to Changing Markets
Even the strongest have to evolve.
Buy Stock-Pickers, Avoid Sector-Pickers
Separating skill from luck with manager attribution.
Are Some Flexible Funds Proving Academics Wrong?
Tactical target-date funds are outperforming those that don't zig when the market zags.
The Target-Date Industry in 5 Charts
Highlights from Morningstar's 2014 Target-Date Series Research Paper.
Target-Date Funds Get Cheaper, Use Tactical Allocation Well
Morningstar's annual industry study points to Fidelity as the new price leader, replacing Vanguard.
Lynch: The Bigger Threat to Facebook
Given Facebook's strong network effect and high switching costs, its direct rivals are a smaller concern than something completely different that might divert users' attention away from social networks, say Morgan Stanley manager Dennis Lynch. Plus: Why Lynch lowered his Apple stake.
Follow the Money to Understand Your Stocks' Real Exposures
Knowing the sources of a company's revenue, not just its country of domicile, is important for investors to get the actual exposures they want, says American Funds portfolio manager Rob Lovelace.
Not All Target-Date Funds Have the Same Pattern
Stock and bond movements in 2014 have created a wide range of outcomes among target-date series from different providers.
A Closer Look at a Fund Manager of the Year
Morgan Stanley's growth team rises above the crowds with its flexible process and distinctive culture.
Portfolio Manager Changes at Fidelity Freedom Funds
As the target-date series' process evolves, so does its team.
Lynch: Growth Picks in Emerging and Established Franchises
Morningstar's 2013 Domestic-Stock Fund Manager of the Year describes how he and his team size up the growth giants of today and tomorrow.
In an Industry of Sprinters, American Funds Demonstrates Its Endurance
The firm is evolving in the face of industry trends--and continued redemptions from its funds--but certain hallmarks remain intact.
The Paradox of Prudence
Is your target-date fund taking the risk you need?
Not All Manager Changes Are Equal
Some manager replacements are more hopeful than others.
Gold Stocks Ready to Outperform
Although gold equities have lagged the performance of bullion, miners will do a much better job of executing and delivering margin expansion to investors, says Fidelity's Joe Wickwire.
Consistency Key With 529s
Fidelity's Andrew Dierdorf discusses how his firm's new open architecture strategies jell with Fidelity's legacy college-savings options.
Lifting the Curtain on Changes at American Funds Bond Fund of America
Recent changes to this fund's portfolio manager structure shows much tinkering going on.
There's Less Than Meets the Eye for These Funds
Four funds whose Morningstar Analyst Ratings are worse than their star ratings.