An upgrade in People Pillar rating is the primary driver of JPMorgan Unconstrained Debt I's upgrade to a Morningstar Quantitative Rating of Silver from Neutral. The portfolio maintains a sizable cost advantage over competitors, priced within the lowest fee quintile among peers.
The strategy's sensible investment philosophy merits an Above Average Process Pillar rating. Independent of the rating, analysis of the strategy's portfolio shows it has maintained an overweight in debt with five- to seven-year maturities and government bonds compared with category peers. The management team's considerable industry experience earns it an Above Average People Pillar rating. The strategy is part of a first-rate parent, as shown by a high lineup success ratio and overall low fees. These attributes support its Above Average Parent Pillar rating.