The personnel changes occurring over the past year reduces our confidence in DWS Managed Municipal Bond’s process. Even though the portfolio managers have long tenures, the reorganized research team creates uncertainty resulting in Morningstar Analyst ratings of Neutral for most share classes and Negative for its more expensive C share class.
Will SCMBX 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 SCMBX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the SCMBX 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 SCMBX’s parent organization’s priorities and whether they’re in line with investors’ interests.