New Ratings
PIMCO GIS Emerging Markets Bond – Bronze
Pimco GIS Emerging Markets Bond benefits from an enhanced process, and the relatively large team backing it has stabilised recently. Pramol Dhawan, a comanager since 2017 alongside Yacov Arnopolin, took over as head of the emerging-markets debt team in 2019 when former leader Michael Gomez left the firm. The fund’s institutional share class earns a Morningstar Analyst Rating of Bronze and its more expensive share classes earn a Neutral.
- Mara Dobrescu, Director, Fixed Income Strategies, Manager Research
Capital Group Global Corporate Bond - Neutral
Morningstar has initiated coverage of Capital Group Global Corporate Bond with an Analyst Rating of Neutral for all share classes. The strategy’s unique approach, which sees the portfolio managed by fourteen credit analysts rather than the traditional lead manager structure, garners an Above-Average Process score. This is supported by the stability of the team, their focus on bottom-up credit research, and the strategy’s compelling track-record. However, because the current team leader, Damir Bettini, has been in place for less than a year, more observation is needed to observe the team’s performance in its current setup. The strategy thus earns a People score of Average.
- Shannon Kirwin, Senior Manager Research Analyst for Morningstar Benelux
Note: As part of Morningstar's enhanced methodology for Analyst Ratings, different share classes have different Ratings
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