Christine Benz (Chicago, IL) is Director of Mutual Fund Analysis at Morningstar, where she manages a staff of 35 mutual fund analysts. Previously, she was the editor of "Morningstar [registered] FundInvestor", a monthly newsletter, as well as "Morningstar Funds 500", an annual publication....
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds. closed-end funds, and separate accounts} with at least a three-year history. Exchange-traded funds and open-en...
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For decades,Morningstarhas been regarded as the premier source of information on mutual funds in the financial industry. The first mutual fund sourcebook was published in 1984, and this resource has come to be used worldwide by millions of investors and thousands of financial advisors.1 Morni...
mutual fundsMorningstar small-cap fundsstar ratingcategory ratingrisk/return performanceinvestment styleperformance clustersThe Morningstar category rating is preferred to the Morningstar star rating with respect to the preponderance of its associations with both the Jensen Alpha and Sharpe Index. But, ...
The main purpose of this study is to identify the large-cap mutual funds in the Morningstar 500 that are efficient or inefficient as determined by data envelopment analysis (DEA). The second purpose is to identify the financial variables that differ significantly between efficient and inefficient ...
In the mutual funds industry the rating process is very important, and Morningstar is surely the most influential international rating agency. In this work we consider the problem of evaluating if the risk component is adequately accounted for in the Morningstar rating. To face this problem we ...
Morningstar ranksmutual funds on a scale of one to five stars. These rankings are based on how the fund has performed – with adjustments for risks and costs – compared to funds in the same category. Each fund receives separate ratings for three-, five- and 10-year periods, which it co...
In a world that prizes five-star restaurants, four-star movies and the Good Housekeeping Seal of Approval, what's wrong with a rating system for mutual funds? Plenty, believes A. Michael Lipper, head of Lipper Analytical Services Inc., who has been tracking mutual-fund performance for 21 ...