Rick Smith, senior portfolio manager on DWS’ fixed-income platform and a lead portfolio manager on DWS Short Duration PPILX, announced his retirement from the firm effective June 30, 2022. Smith joined the firm in 2004 and has been leading this strategy since 2016. Two of the three remaining portfolio managers have managed this strategy for more than five years. The trio is backed by an experienced research team sufficient for this portfolio mandate, though the group has seen some turnover at the analyst level in recent years. Jeff Morton, comanager on this strategy since 2017, will succeed Smith as the lead manager. Thomas J. Sweeney, named manager on this strategy since 2017, will continue to support Morton with this effort. Lonnie Fox, who joined the firm in 2004, will be added to the management rooster effective July 1, 2022. Given the experienced managers and sufficient supporting team, this change does not affect the current rating on DWS Short Duration; it maintains a People Pillar rating of Average, while its overall Morningstar Analyst Rating remains Neutral.
DWS Short Duration A PPIAX
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will PPIAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PPIAX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the PPIAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of PPIAX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Upcoming Lead Manager Retirement Doesn't Change the Ratings for DWS Short Duration
