Check Out These 9 Newly Rated Funds

Morningstar Manager Research assigns Analyst Ratings to 1,078 mutual funds in the United States, periodically making changes to its coverage list. Below we'll take a look at some funds that were rated for the first time in recent months.

Artisan Global Equity ARTHX: Bronze

This fund joins a cadre of other Artisan medalist funds. Launched in 2010, it does have above-average fees working against it. The team also saw a comanager depart in 2013. But proven manager Mark Yockey, who has successful records at other global and international funds, remains at the helm; he's since been joined by two other comanagers. The portfolio is fairly focused, flexible in terms of sector and country weightings, and has held a double-digit stake in emerging markets at times (it was recently 0%). The strategy has less than $1 billion in assets, allowing the team to be nimble.

Ave Maria Rising Dividend AVEDX: Bronze

This $821 million fund is notable for its focus on dividends and its attempt to avoid companies that conflict with the principles of the Roman Catholic Church. From an investment standpoint, it favors companies with strong free cash flow that can be paid out via dividends, looking across the market-cap spectrum. While it doesn't focus on the highest-yielding names, its yield is generally above average compared with peers in the large-blend Morningstar Category. It's been relatively defensive, though its pro-cyclical tilt hurt in 2015. However, it's outperformed the S&P 500 and the Nasdaq U.S. Dividend Achievers Select Index during the past decade. Fees are just average, however.

Hotchkis & Wiley Value Opportunities HWAAX: Bronze

Not for the faint of heart, this fund invests across the capital structure and market-cap spectrum in a contrarian fashion, which means its picks can be out of favor for stretches of time. Like its siblings, the fund keeps a close eye on valuations, considers risk-adjusted normalized earnings in its forecasts, and has tended to thrive in up markets while lagging in down markets. The firm has been strongest in assessing small- and mid-cap stocks;

Lazard International Equity LZIEX and Lazard International Strategic Equity LISIX: Bronze

These funds, run by London-based lead managers and backed by an experienced analyst team, land in the foreign large-blend category but take a flexible all-cap approach. As a result, their portfolio composition can change based on market conditions. While they've skewed toward large-caps lately because of valuations, the funds held greater stakes in mid-caps just a few years ago. The managers' focus on profitability has given the funds a bit of a defensive edge, yet they've managed to do well in more robust markets, too.

Parnassus PARNX: Bronze

As with Parnassus Investments' other offerings, this fund uses environmental, social, and governance screens coupled with analysis of a company's management team, competitive advantages, and valuation. The concentrated fund has an above-average stake in small- and mid-cap stocks compared with its large-growth peers, can hold up to 10% in cash, and tends to favor technology companies. Firm founder Jerome Dodson has successfully run the fund since 1984 and is clearly closer to the end of his career than the beginning. His comanagers are fairly untested, having joined the fund in 2013 and 2016. On the plus side, the fund is very reasonably priced, including relative to other ESG funds.

Polen Growth POLIX: Bronze

This $1.2 billion fund launched in 2010 and isn’t a household name, but the strategy dates back to 1989 as a separate account. Managers Daniel Davidowitz and Damon Ficklin look for cash flow producing, low-debt companies with a range of growth characteristics, steering clear of capital-intensive and cyclical firms when constructing the 20-stock portfolio. The strategy has shone over the long term in both up and down markets, and the mutual fund has continued to post impressive results on an absolute and risk-adjusted basis.

Poplar Forest Partners PFPFX: Neutral

J. Dale Harvey set up shop in 2007 after a 16-year tenure at Capital Group, launching this fund in 2009. Unlike the sprawling portfolios he used to contribute to, this fund holds around 30 stocks, and he plans to close it to new investors when the strategy reaches $7.5 billion in assets. While 85% of the fund must be invested in dividend-paying companies, the fund can post volatile returns relative to large-value peers. Fees are a headwind at the fund, which hasn't yet endured a bear market since launching, making the case for Neutral for now.

Smead Value SMVLX: Neutral

Bill Smead launched this fund in 2008 after running money at Wachovia and Smith Barney in a similar fashion. In selecting around 25 stocks for the portfolio, he focuses on a set of eight criteria including profitability, free cash flow, competitive advantage, and intrinsic value. Sector bets can be expected: Two thirds of the fund's assets were recently in financials and consumer discretionary stocks. While since-inception results are strong, the fund faces a fee hurdle, and the strategy's asset base is significantly higher than what Smead was used to in the past.