Given concerns around this fund’s risk management at the total portfolio level, the fund’s cheapest share classes are downgraded to a Morningstar Analyst Rating of Neutral from Bronze, and the most expensive share class is downgraded to Negative.
Will PGBAX 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 PGBAX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the PGBAX 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 PGBAX’s parent organization’s priorities and whether they’re in line with investors’ interests.