The Morningstar Analyst Rating for funds represents Morningstar's conviction in the fund's ability to outperform on a risk-adjusted basis over the long term. The five-tiered, qualitative Morningstar Analyst Rating scale has three positive levels, indicating Morningstar Medalists — Gold, Silver and Bronze — in addition to Neutral and Negative ratings.
As of Sept. 30, Morningstar analysts had assigned a rating of Gold to 158 unique U.S. funds, a Silver rating to 343 funds, a Bronze rating to 600 funds, a Neutral rating to 677 funds, and a Negative rating to 19 funds.
Morningstar Medalists currently account for approximately 5% of unique mutual funds available for sale in the United States and 69% of assets under management.
The following Morningstar Analyst Rating changes occurred in September 2018:
Upgrades
- BlackRock Technology Opportunities (Bronze from Neutral)
- Fidelity Advisor Emerging Asia (Bronze from Neutral)
- Fidelity Emerging Asia (Bronze from Neutral)
- PGIM Jennison Health Sciences (Silver from Bronze)
- Pimco Active Bond ETF (Silver from Neutral)
Downgrades
- Guggenheim Directional Allocation (Negative from Neutral)
- Harbor Capital Appreciation (Silver from Gold)
- Harbor International (Bronze from Silver)
- PGIM Jennison Growth (Silver from Gold)
- T. Rowe Price Real Estate (Bronze from Gold)
New Ratings
- JMA Large Cap Growth Equity (SMA) (Silver)
- JMA Mid Cap Growth Equity (SMA) (Bronze)
- Luther King Capital Management Small-Mid Cap Equity (SMA) (Neutral)
- Neuberger Berman Small Cap Intrinsic Value (SMA) (Bronze)
- Nuveen International Growth ADR (SMA) (Neutral)
- Renaissance Large Cap Growth (SMA) (Neutral)
- AMG Renaissance Large Cap Growth (Neutral)
- LKCM Small-Mid Cap Equity (Neutral)
- Neuberger Berman Intrinsic Value (Bronze)
- Nuveen International Growth (Neutral)
Under Review
- AMG Managers Amundi Short Duration Government (Neutral)
- Fidelity High Income (Silver)
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