The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:M* Clips Clipper Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, May 14, 2013

M* Clips Clipper

News summary by MFWire's editors

Morningstar is not smiling on the Clipper Fund.

Yesterday in the Fund Spy column, Morningstar mutual fund research director Russ Kinnel unveiled analyst rating downgrades of five mutual funds, including Clipper. He also explained the downgrades, offering cautionary tales to other fundsters.

In the case of Davis Selected Advisers' [profile] two-star, $1.2-billion Clipper, Morningstar docked the famous, focused large blend fund from gold to silver, claiming that the fund's PMs have "added more to risk than rewards" and highlighting its weak five-year track record.

Who else got hit? Morningstar docked Water Island Capital's [profile] three-star, $2.9-billion Arbitrage Fund from silver to bronze, citing an asset-sextupling in three years and a shift away from small caps towards large caps and overseas investments.

Fidelity's [profile] four-star, $12.2-billion Fidelity Floating Rate High Income Fund fell two notches from gold to bronze thanks to the retirement of PM Christine McConnell, who was succeeded by Eric Mollenhauer, a PM with a mere two-year public record.

The analysts dropped Janus' [three-star, $2.4-billion Janus Global Research Fund fund from silver to bronze over concerns about Janus' global research quality and after the fund swallowed a much larger sibling.

Finally, Morningstar downgraded Aston's [profile] four-star, $5-billion Aston/Montag & Caldwell Growth Fund from gold to silver over worries that 68-year-old PM Ron Canakaris may retire and the likely successors "don't have much of a track record." 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use