Runsaasti uusia rahastoarvioita

Morningstarin eurooppalaiset analyytikot ovat julkaisseet näkemyksensä 22 aiemmin reittaamattomasta rahastosta.

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Morningstar on julkaissut ison tukun arvioita rahastoista. 

Joukossa on kaksi toiseksi korkeimman Silver-arvosanan rahastoa. joista MFS Meridian Prudent Wealth on rekisteröity myös Suomeen. Rahastoa vetää kokenut Barnaby Wiener, joka on osoittanut hallitsevansa niin osakepoiminnan kuin riskienhallinnan. Rahasto painottaa korkealaatuisia yhtiöitä. Jos markkinoilla ei ole kiinnostavia tilaisuuksia, rahasto siirtyy käteiseen.

Bronze-reittauksen saaneista Suomeen rekisteröityjä ovat

AB Eurozone Equity Portfolio

JPM Global Balanced

Pictet-Global Megatrend Selection

Schroder ISF Global Convertible Bonds


Morningstar on myös pudottanut Aberdeenin Emerging Markets Equity -strategian arvosanan Silver-tasolta Bronzeen. Analyytikko Andrew Danielsin näkemys:


"While Aberdeen Standard continues to have a solid and experienced investment team in place, an evolving investment approach appears to be pulling the team out of its comfort zone. As a result, the strategy’s Morningstar Analyst Rating has been downgraded to Bronze from Silver. The firm has a large dedicated emerging-markets team of approximately 65, and the key figures here are Devan Kaloo and Joanne Irvine. Kaloo and Irvine, like many of their colleagues, have spent the majority of their careers at the firm—joining in 2000 and 1996, respectively—and their insights are typically above-average. While the London team has been relatively stable since the August 2017 merger of Aberdeen and Standard Life, there have been several departures within the Asia-Pacific region, including four investment managers, which casts doubt that the team remains best-in-class. The investment approach has also been evolving, giving us pause. Historically, the team preferred to get its Chinese exposure through Hong Kong names, largely due to corporate governance and transparency concerns. However, the team revisited its thinking on many China names in 2017—amid poor performance—and has since been adding aggressively there.While it is promising to see the team willing to be more flexible, the rationale for the shift in thinking during a series of November 2018 meetings was weak, raising concerns that the team is becoming more relaxed on corporate governance and benchmark-aware, as evidenced by deteriorating active share in the year ended September 2018. The lower active share places an additional emphasis on this fund’s fees, which are uncompetitive, especially considering the strategy’s USD 32.7 billion asset base. Moreover, the integration of legacy Standard Life’s “focus on change” approach into a new research note template—rolled out in May 2018—could take the team out of its comfort zone. Despite lower conviction in the approach and above-average fees, the fund does havean experienced, proven, and well-resourced team to leverage, giving investors reason to hold on."

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Artikkelissa mainitut sijoitukset

Sijoituskohteen nimiHintaMuutos (%)Morningstar rating
AB Eurozone Eq A EUR33,04 EUR0,96Rating
JPM Global Balanced A (acc) EUR2 114,58 EUR0,59Rating
MFS Meridian Prudent Wealth A1 USD21,45 USD0,02Rating
Pictet-Global Megatrend Sel R EUR309,49 EUR0,86Rating
Schroder ISF Glb Convert Bd A Acc EUR H133,48 EUR0,31Rating

Tietoja kirjoittajasta

Matias Möttölä, CFA

Matias Möttölä, CFA  Matias Möttölä, CFA, on päätoimittaja ja rahastoanalyytikko

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