In March 2021, Morningstar analysts updated Analyst Ratings for 1,476 fund share classes, exchange-traded funds, and separately managed accounts/collective investment trusts. Of these, 1,074 ratings stayed the same, 121 were downgrades, 131 were upgrades, and 131 were new to coverage. We placed 19 entities under review owing to significant changes such as manager departures.
Sorting out multiple share classes and vehicles, Morningstar rated 350 unique strategies during the month. Of these, 25 received a rating for the first time; the rest previously had at least one investment vehicle type with a Morningstar Analyst Rating. Below are some highlights of the upgrades, downgrades, and newly covered funds.
Upgrades
Metropolitan West Unconstrained Bond (MWCIX), the fund s institutional share class, rose to a Gold rating to join the fund s cheapest share class, (MWCPX). The pricier M class ((MWCRX)) moved up to Silver from Bronze. Portfolio managers Tad Rivelle, Steve Kane, Laird Landma
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