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Fund Spy

5 of the Biggest Upgrades of 2019

Funds from Fidelity and Dodge & Cox are on the rise.

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When we downgrade funds, it is sometimes due to some dramatic event, such as a manager change or a strategy change. But upgrades are more subtle.

On rare occasions they’re triggered by big news, such as a big fee cut or the arrival of a better manager. More often, a fund earns the upgrade by continuing to prove itself as it executes its plan. Over years of conversations and on-site visits, we get to know the team behind the fund better. If it executes its plan and adds value, we may upgrade. Stability in the management and analyst ranks is also a positive sign of team buy-in and cohesion. Here, then, are five of the biggest upgrades of 2019 so far.

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

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