Columbia Quality Income’s approach courts credit and liquidity risks, but the stable and experienced team has demonstrated skill in navigating volatile markets in 2020, supporting an upgrade of its People Pillar rating. While the strategy has shown potential, the overall portfolio risk level and complexity gives us pause, warranting a Morningstar Analyst Rating of Neutral for all share classes.
Will AUGAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable AUGAX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the AUGAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of AUGAX’s parent organization’s priorities and whether they’re in line with investors’ interests.