Jason Kephart

More From Jason Kephart

A November to Forget for Muni CEF Investors

This year's strong rally in municipal CEFs has sharply corrected as inflation expectations soar.

Cara Esser Dec 15, 2016

Putting Morningstar’s New Style Box to Work

Three ways investors can use the alternatives style box as part of their regular due diligence.

Jason Kephart Nov 10, 2016

Libor to Bank-Loan CEFs: Float On

Bank-loan CEFs may finally offer long-promised floating coupons.

Cara Esser Nov 10, 2016

A New Framework for Analyzing Alternative Mutual Funds

Introducing the Morningstar Style Box for alternative funds.

Jason Kephart Oct 20, 2016

PIMCO CEF Cuts Distribution, Shares Plummet

The risk of buying CEFs at huge premiums comes to fruition.

Jason Kephart Oct 13, 2016

Size Matters When It Comes to CEF Premiums

Thirsty investors are pushing some CEF share prices into the stratosphere.

Cara Esser Sep 15, 2016

The Worst Practice in Liquid Alternatives

Investors have a right to know how much they pay in fees, but some funds won’t come clean.

Jason Kephart Aug 29, 2016

Morningstar’s Top Tips For Investing in CEFs

Investors willing to take the time to learn the ins and outs of CEFs will discover a relatively unfollowed and often mispriced slice of the market.

Jason Kephart Aug 11, 2016

Gotta Catch This Muni CEF

Nuveen Municipal Value is one of our top picks, despite a recent manager change.

Jason Kephart Jul 14, 2016

Municipal CEFs: Hold the Door

The threat of rising rates caused a brief sell-off in municipal bond CEFs in May. Plus, muni CEFs aren't as expensive as they look.

Jason Kephart Jun 16, 2016

The Future of CEFs Gets Dimmer With DOL Ruling

The Fiduciary Standard presents another hurdle for CEF IPOs.

Jason Kephart May 12, 2016

No Market for Covered-Call CEFs

Covered-call closed-end funds can benefit when volatility rises, but recent returns have been disappointing.

Cara Esser Apr 14, 2016

The Hedge Fund Manager's New Clothes

Multistrategy funds of hedge funds have offered retail investors little for their high fees.

Jason Kephart Apr 4, 2016

MLPocalypse Averted for Now

Have MLP closed-end funds finally hit bottom?

Cara Esser Mar 10, 2016

Unlock the Potential of Muni CEFs

Munis provide investors with a meaningful tax advantage, and discounts add to the appeal.

Cara Esser Feb 11, 2016

Winter Has Come for Alternative Funds

January's stock market swoon puts a spotlight on liquid alternatives.

Jason Kephart Jan 19, 2016

Hello From the Other Side of MLP Investing

After five years of strong returns, MLP CEF investors are rolling in deep losses.

Jason Kephart Nov 12, 2015

PIMCO CEFs Not Immune to Grossapalooza Hangover

It's been a rocky year for shareholders of Bill Gross' former CEFs, despite solid performance from the new management team; PIMCO High Income's shares have fallen 26% this year through September.

Jason Kephart Oct 8, 2015

A Workaround for High Alternative Fund Fees

This simple trick can help you halve some alternative fund fees.

Jason Kephart Sep 24, 2015

There's A Fire (Sale) in Bond CEFs

Stock market volatility has sent taxable-bond CEF share prices spiraling downward, but is this the best deal since the financial crisis?

Jason Kephart Sep 10, 2015

Liquid Alternatives Aren't Watered Down

Multistrategy alternative managers weigh in on the pros and cons of using mutual funds to access hedge fund-like returns.

Jason Kephart Jun 26, 2015

The Incredible Shrinking CEF Universe

The number of closed-end funds available has shrunk by nearly one fifth since 2011.

Jason Kephart Jun 18, 2015

Japan Equity CEFs Win the First Quarter

These closed-end funds were unstoppable in early 2015; plus, did the first IPO of 2015 usher in a new era for CEF shareholders?

Jason Kephart Apr 16, 2015

Buyer Beware With Managed-Futures Funds

Investors have swiftly rushed into managed-futures funds this year, but the category isn't out of the woods yet.

Jason Kephart Mar 24, 2015

More About Jason Kephart

Jason Kephart, CFA, is director of multi-asset ratings for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He is responsible for Morningstar’s multi-asset ratings methodology and shares responsibility for research priorities. Kephart leads the firm’s global and North American multi-asset ratings committees. Kephart regularly contributes to Morningstar’s thought leadership on target-date strategies, 60/40 portfolios, model portfolios, and other multi-asset outcome-based products. He has been the lead analyst for multi-asset strategies from firms such as Vanguard, BlackRock, T. Rowe Price, and Dodge & Cox.

Before joining Morningstar in 2014, Kephart spent seven years as a journalist for InvestmentNews, Fund Action, and SmartMoney, reporting primarily on the mutual fund and exchange-traded fund industries.

Kephart holds a bachelor’s degree in English from Florida State University. He also holds the Chartered Financial Analyst® designation.