CHICAGO, Feb. 13, 2017 /PRNewswire/ -- Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research, has published a summary of Morningstar Analyst Rating(TM) activity for 95 U.S. mutual funds and exchange-traded funds (ETFs) that occurred in January 2017. The Morningstar Analyst Rating for funds represents Morningstar's conviction in the fund's ability to outperform on a risk-adjusted basis over the long term. The five-tiered, qualitative Morningstar Analyst Rating scale has three positive levels, indicating Morningstar Medalists--Gold, Silver, and Bronze--in addition to Neutral and Negative ratings.

In January, Morningstar's Manager Research Group upgraded one U.S. fund and downgraded ratings for six funds. In addition, analysts affirmed ratings for 69 funds and assigned 19 new fund ratings.

As of Jan. 31, 2017, Morningstar analysts had assigned a Morningstar Analyst Rating of Gold to 132 unique U.S. funds, a Silver rating to 297 funds, a Bronze rating to 479 funds, a Neutral rating to 394 funds, and a Negative rating to 10 funds. Morningstar Medalists currently account for approximately 13 percent of unique mutual funds available for sale in the United States and 59 percent of assets under management. Morningstar's manager research analysts rate more than $11 trillion of U.S. investor assets, or approximately 67 percent of total investor assets in the United States.

The following Morningstar Analyst Rating changes occurred in January 2017:



                                 Previous Morningstar Current Morningstar

                                 Analyst Rating       Analyst Rating
                                 --------------       --------------

    Upgrade
    -------

    T. Rowe Price Institutional
     Large Cap Growth            Neutral              Bronze
    ---------------------------  -------              ------


    Downgrades
    ----------

    AQR Managed Futures Strategy
     HV                          Silver               Bronze
    ---------------------------- ------               ------

    Gotham Absolute Return       Bronze               Neutral
    ----------------------       ------               -------

    LKCM Small Cap Equity        Silver               Bronze
    ---------------------        ------               ------

    Oppenheimer Equity Income    Bronze               Neutral
    -------------------------    ------               -------

    RiverPark/Wedgewood          Silver               Bronze
    -------------------          ------               ------

    Royce Special Equity         Gold                 Silver
    --------------------         ----                 ------


    New Ratings
    -----------

    AB Discovery Growth          None                 Neutral
    -------------------          ----                 -------

    Consumer Staples Select
     Sector SPDR ETF             None                 Neutral
    -----------------------      ----                 -------

    Eagle Mid Cap Growth         None                 Neutral
    --------------------         ----                 -------

    Fidelity Advisor Emerging
     Markets                     None                 Bronze
    -------------------------    ----                 ------

    Goldman Sachs Multi-Manager
     Alternatives                None                 Neutral
    ---------------------------  ----                 -------

    Industrial Select Sector
     SPDR ETF                    None                 Neutral
    ------------------------     ----                 -------

    iShares Core Total USD Bond
     Market                      None                 Silver
    ---------------------------  ----                 ------

    iShares National Muni Bond   None                 Bronze
    --------------------------   ----                 ------

    iShares US Consumer Goods    None                 Neutral
    -------------------------    ----                 -------

    iShares US Industrials       None                 Neutral
    ----------------------       ----                 -------

    PowerShares Buyback
     Achievers ETF               None                 Neutral
    -------------------          ----                 -------

    SPDR Nuveen Bloomberg
     Barclays Municipal Bond ETF None                 Bronze
    ---------------------------- ----                 ------

    SPDR Nuveen Bloomberg
     Barclays Short Term
     Municipal Bond ETF          None                 Bronze
    ---------------------        ----                 ------

    Technology Select Sector
     SPDR ETF                    None                 Bronze
    ------------------------     ----                 ------

    Touchstone Sustainability
     and Impact Equity           None                 Neutral
    -------------------------    ----                 -------

    Vanguard Consumer Staples
     ETF                         None                 Neutral
    -------------------------    ----                 -------

    Vanguard Industrials ETF     None                 Neutral
    ------------------------     ----                 -------

    Vanguard Tax-Exempt Bond ETF None                 Silver
    ---------------------------- ----                 ------

    William Blair Macro
     Allocation                  None                 Bronze
    -------------------          ----                 ------

A list of the Analyst Ratings for 69 U.S. funds that Morningstar affirmed in January is available here.

A summary of last month's Morningstar Analyst Rating changes for U.S. funds is available on Morningstar.com in the latest Fund Spy: Medalist Edition here.

Morningstar launched its Analyst Rating for funds and Global Fund Reports in November 2011. Morningstar Medalists--Gold-, Silver-, and Bronze-rated funds--are funds that analysts determine are likely to outperform their peer groups and/or relevant benchmarks on a risk-adjusted basis over a market cycle of at least five years. The differences between the positive ratings indicate the level of the analyst's conviction in a fund's future performance. Analysts arrive at a rating through an evaluation of five key pillars: People, Process, Parent, Performance, and Price. The Analyst Rating methodology for mutual funds is available here and for ETFs here.

To view a complete list and supporting analysis for Analyst Ratings for U.S. funds, please visit www.morningstar.com. Premium Members have access to a Morningstar Medalists screener, where users can sort funds by Morningstar Rating, Morningstar Analyst Rating, Fund Family, Manager Tenure, Expense Ratio, and other metrics. Morningstar's Global Fund Reports, in-depth research reports that include a wealth of data and analysis, are available in Morningstar Direct(SM), the company's web-based global investment analysis platform for institutional investors, and in Morningstar Office(SM), a global practice and portfolio management solution for advisors.

Morningstar has approximately 120 manager research analysts worldwide who cover approximately 3,860 funds. The company provides data on approximately 209,300 open-end mutual funds, 10,100 closed-end funds, and 13,900 exchange-traded product listings as of Sept. 30, 2016.

About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on nearly 540,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on approximately 18.5 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $200 billion in assets under advisement and management as of Sept. 30, 2016. The company has operations in 27 countries.

Morningstar's Manager Research Group consists of various wholly owned subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC. Analyst Ratings are subjective in nature and should not be used as the sole basis for investment decisions. Analyst Ratings are based on Morningstar's Manager Research Group's current expectations about future events and therefore involve unknown risks and uncertainties that may cause such expectations not to occur or to differ significantly from what was expected. Analyst Ratings are not guarantees nor should they be viewed as an assessment of a fund's or the fund's underlying securities' creditworthiness. This press release is for informational purposes only; references to securities in this press release should not be considered an offer or solicitation to buy or sell the securities.

©2017 Morningstar, Inc. All rights reserved.

MORN-R

Media Contact:
Mary Kenefake, +1 312 348-3089 or mary.kenefake@morningstar.com

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SOURCE Morningstar, Inc.