"Fund" and "Strategy" are not Interchangeable Terms

dryflower

Has anyone noticed how Morningstar analysts have started to use the word "strategy" when referring directly to a mutual fund? I find it very off putting and not at all accurate. To cite one of many, many examples, in the report for FCNTX it refers to "the strategy's colossal asset base". I think they are trying to avoid the use of the word "fund" over and over again, but they have picked a substitute that isn't accurate. A mutual fund is simply and most definitely unequal to a "strategy".

carew388

Pool or portfolio might work, or describe FCNTX as a large-cap growth fund.

Vegomatic

I think [but not sure] that Morningstar is using 'strategy' to refer to all of the assets that are managed by the same manager that manages the fund, and in the same way. That may not be the same as the assets in the particular fund being profiled due to multiple share classes, advisor share classes, insurance-annuity wrapped products, etc.

JoJo26

Vegomatic said:

I think [but not sure] that Morningstar is using 'strategy' to refer to all of the assets that are managed by the same manager that manages the fund, and in the same way. That may not be the same as the assets in the particular fund being profiled due to multiple share classes, advisor share classes, insurance-annuity wrapped products, etc.

@Vegomatic is correct, and this is consistent with how the institutional investment community views investment manager assets.