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Rating:M*'s New Ratings Praise FPA, Demote Bogle and Lord Abbett Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, November 29, 2012

M*'s New Ratings Praise FPA, Demote Bogle and Lord Abbett

Reported by Chris Cumming

Morningstar just dropped off another batch of analyst rankings, which is good news for First Pacific Advisors (FPA) and Pimco, less so for Lord Abbett and Bogle Investment Management.

The $242 million FPA Perennial fund, managed by the Los Angeles-based FPA, is Morningstar's the latest gold-rated fund. It's got a 1 percent expense ratio and has returned 12.75 percent so far this year, according to Morningstar. Other upgraded funds are the $7.1 billion Pimco Emerging Markets Currency fund, which has a 1.1 percent expense ratio and is up 6.92 percent year to date.

Three funds retained gold ratings through this latest round of scrutiny: Matthews Asia Dividend Investor Fund, Royce Premier Investment, and T. Rowe Price Mid-Cap Value.

But Morningstar's analysts handed out some coal along with the gifts. The $112 millionBogle Small Cap Growth Instl fund was dropped from gold to silver, while the Lord Abbett Total Return I slipped from bronze to neutral.

So now PMs from Bogle and Lord Abbett can sympathize with Jeff Gundlach and share his well-publicized disdain for Morningstar's analyst rankings. And the controversy about the research firm's methodology and judgment will continue to simmer. 

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