JPMorgan Tax Free Bond A boasts strong Process and People Pillar ratings, but other weaknesses hold this strategy's Morningstar Quantitative Rating at Neutral. The strategy charges fees in line with its similarly distributed peers, priced within the middle quintile.
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 underweight position in A rated bonds and an overweight in cash compared with category peers. The longest-tenured manager's extensive experience drives the strategy's Above Average People Pillar rating. The strategy is part of a first-rate parent, as shown by a competitive lineup success ratio and overall reasonable fees. These attributes support its Above Average Parent Pillar rating.