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Morningstar

Changing Parameters CPMPX

Morningstar Analyst Rating
Quantitative rating as of
  • NAV / 1-Day Return 10.56  /  0.09 %
  • Total Assets 87.6 Mil
  • Adj. Expense Ratio
    1.800%
  • Expense Ratio 2.440%
  • Distribution Fee Level High
  • Share Class Type No Load
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity Low / Limited
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 0.79%
  • Effective Duration 2.58 years

USD | NAV as of Jan 31, 2023 | 1-Day Return as of Jan 31, 2023, 1:16 AM GMT+00:00

Morningstar’s Analysis CPMPX

Will CPMPX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable CPMPX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the CPMPX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of CPMPX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Summary

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Changing Parameters's recent fee cut and People Pillar rating increase lead to an upgrade in this strategy's Morningstar Quantitative Rating to Neutral from Negative. Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the highest quintile among peers.

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