The pending loss of Phil Davidson from American Century Equity Income looms large, and the remaining team needs to prove it can manage to the same high level without him. The strategy’s four cheaper share classes have seen their Morningstar Analyst Ratings downgraded to Bronze from Silver, while the four more-expensive ones drop to Neutral from Silver or Bronze.
American Century Equity Income A TWEAX Fund Analysis
Morningstar’s Fund Analysis TWEAX
Will TWEAX outperform in future?
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Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable TWEAX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the TWEAX 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 TWEAX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Loss of longtime lead manager leaves this team with something to prove.
