Strength in JPMorgan Unconstrained Debt R5's Process Pillaris partially offset by an Average People Pillar rating, leading to a Morningstar Quantitative Rating of Neutral. The portfolio maintains a cost advantage over competitors, priced within the cheapest fee quintile among peers.
The strategy benefits from its experienced portfolio management team. This is a positive driver for the strategy's Average People Pillar rating. The strategy's effective investment approach earns an Above Average Process Pillar rating. The portfolio has overweighted debt with five- to seven-year maturities and has an underweight in cash compared with category peers. The strategy belongs to a strong asset-management firm that earns an Above Average Parent Pillar rating. The firm, for example, has had a high lineup success ratio and overall reasonable fees.