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Morningstar highlights nine funds in the article, with assets up to $101 billion. Those are drawn from a list of 28 that made the cut. Of those 28, one has under a billion in assets.
The key to making the cut: Morningstar must designate it a "core" fund, a category for which there are no hard-and-fast rules. Generally large cap and generally diversified, but also fairly large. There's only one free-standing fund with under $250 million in assets that they think of as "core."
There are a lot of "core" funds under $250 million but that occurs only when they're part of a target-date suite: Fidelity Retirement 2090 might have only $12 in it but it becomes "core" because the whole Fido series is core.
Morningstar's implied judgments ("we don't trust anyone over 30 or under a billion in assets") might be fair, but would be fairer if more explicit.
Mr. Snowball...per M*, "As our baseline criteria, we looked at actively managed funds that have outperformed their benchmarks on an annualized basis during the past 10 years, that have managers or management teams with at least 10 years at the fund's helm (on average), and that are well-suited as core holdings in a portfolio. We limited our search to funds that have earned a Morningstar Analyst Rating of Gold or Silver, meaning they are among the best funds of their kind and that our analysts have a high level of conviction in their ability to outperform their benchmarks and/or peers over the long term (defined as a full market cycle or a minimum of five years)."
Methinks that Toto is once again pulling on the curtain's skirt here. Given their selections were made using a "Premium tool," is this not an exemplar of the principle that what you often use becomes, more or less, a part of who you are?
Comments
Morningstar highlights nine funds in the article, with assets up to $101 billion. Those are drawn from a list of 28 that made the cut. Of those 28, one has under a billion in assets.
The key to making the cut: Morningstar must designate it a "core" fund, a category for which there are no hard-and-fast rules. Generally large cap and generally diversified, but also fairly large. There's only one free-standing fund with under $250 million in assets that they think of as "core."
There are a lot of "core" funds under $250 million but that occurs only when they're part of a target-date suite: Fidelity Retirement 2090 might have only $12 in it but it becomes "core" because the whole Fido series is core.
Morningstar's implied judgments ("we don't trust anyone over 30 or under a billion in assets") might be fair, but would be fairer if more explicit.
David
Wow...that's quite a list of criteria.