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Morningstar Upgraded Rating of 1 Fund, Downgraded 7 in June

Last month, Morningstar analysts upgraded the rating of one U.S. mutual fund and downgraded seven. In addition, analysts affirmed the ratings of 59 funds and one target-date series, assigned six new fund ratings and placed two funds under review.

The upgraded fund is American Funds' Ltd-Term Tx-Ex Bd A. The downgraded funds are:

  • Franklin Federal Interm-Term T/F Inc A (Silver to Bronze)

  • Franklin Federal Tax-Free Income A (Silver to Bronze)

  • Franklin NY Tax-Free Income A (Bronze to Neutral)

  • GMO Benchmark-Free Allocation III (Silver to Bronze)

  • GMO Global Asset Allocation III (Silver to Bronze)

  • Schooner A (Bronze to Neutral)

  • Wells Fargo Absolute Return A (Bronze to Neutral)

The funds with new ratings are:

  • AB Concentrated Growth Advisor (Neutral)

  • Artisan Global Equity Investor (Bronze)

  • Lazard International Strategic Eq Instl (Bronze)

  • Nuveen Intermediate Duration Muni Bd I (Silver)

  • Nuveen Limited Term Municipal Bond A (Silver)

  • Polen Growth Institutional (Bronze)

The funds placed under review are:

  • MFS Global Equity B (Gold)

  • USAA World Growth ((Silver)

The list of 59 U.S. funds and one target-date series that Morningstar affirmed in June is available here.