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Fund Spy: Morningstar Medalist Edition

More Downgrades Than Upgrades in July

But there are four newly rated Morningstar Medalists.

Mentioned: , , , , , , , , ,

We made a moderate number of changes to the Morningstar Analyst Ratings in July. Specifically, we upgraded three funds, downgraded five, and initiated coverage on six last month. The table below lists all of the affected funds. And we highlight the most notable changes here.

Upgrades
 John Hancock Global Absolute Return Strategies (JHAIX) was upgraded to Bronze from Neutral, as its management team has stabilized and it remains strong in other areas. This global-macro fund lost one comanager in 2012 and another one in 2013. But Guy Stern has been on the fund’s management team since it opened in 2011; he has been a manager on the U.K. version of this offering since 2008 and has three decades of investment experience overall; and his support team has expanded considerably in recent years. Stern and his team employ a risk-aware strategy that is attractive as well as distinctive. Their approach has delivered good risk-adjusted returns over time here. And this fund continues to benefit from below-average fees.

William Samuel Rocco does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.