
Harbor Large Cap Value Fund (HAVLX)
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Overview
Investment Team
Morningstar Medalist Rating™

55
100
The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. |
“The noise of the stock market can distract one from their original purpose: investing in a business.”
Greg Padilla
CFA, Principal, Portfolio Manager, Senior Global Research Analyst, Aristotle Capital Management, LLC
Performance
Distribution History
Record Date
Reinvest Date
Payable Date
Return of Capital Non Taxable Dist
Ordinary Income
Total Capital Gains
Short Term Capital Gains
Mid Term Capital Gains
Long Term Capital Gains
Total Distribution
Foreign Tax Credit
Reinvest Price
3/30/2023
3/31/2023
3/31/2023
0.00000
0.06686
0.00000
--
0.00000
--
0.06686
0.00000
--
12/16/2022
12/19/2022
12/19/2022
0.00000
0.12412
0.72018
--
0.00000
0.72018
0.84430
0.00000
18.49
6/28/2022
6/29/2022
6/29/2022
0.00000
0.11915
0.00000
--
0.00000
--
0.11915
0.00000
18.86
12/17/2021
12/20/2021
12/20/2021
0.00000
0.08558
0.60531
0.05971
0.00000
0.54560
0.69089
0.00000
22.24
6/28/2021
6/29/2021
6/29/2021
0.00000
0.08248
0.00000
0.00000
0.00000
0.00000
0.08248
0.00000
22.38
12/16/2020
12/17/2020
12/17/2020
0.00000
0.07234
0.52102
0.00000
0.00000
0.52102
0.59336
0.00000
19.02
6/26/2020
6/29/2020
6/29/2020
0.00000
0.07272
0.00000
0.00000
0.00000
0.00000
0.07272
0.00000
15.66
12/13/2019
12/16/2019
12/16/2019
0.00000
0.07480
0.00000
0.00000
0.00000
0.00000
0.07480
0.00000
17.31
6/26/2019
6/27/2019
6/27/2019
0.00000
0.07897
0.00000
0.00000
0.00000
0.00000
0.07897
0.00000
15.52
12/14/2018
12/17/2018
12/17/2018
0.00000
0.07297
0.23420
0.01792
0.00000
0.21628
0.30717
0.00000
13.44
6/27/2018
6/28/2018
6/28/2018
0.00000
0.06754
0.00000
0.00000
0.00000
0.00000
0.06754
0.00000
14.91
12/15/2017
12/18/2017
12/18/2017
0.00000
0.05315
0.41288
0.01351
0.00000
0.39937
0.46603
0.00000
14.89
6/28/2017
6/29/2017
6/29/2017
0.00000
0.06728
0.00000
0.00000
0.00000
0.00000
0.06728
0.00000
13.91
12/16/2016
12/19/2016
12/19/2016
0.00000
0.06832
0.42776
0.00619
0.00000
0.42157
0.49608
0.00000
12.75
6/28/2016
6/29/2016
6/29/2016
0.00000
0.06168
0.00000
0.00000
0.00000
0.00000
0.06168
0.00000
11.65
12/16/2015
12/17/2015
12/17/2015
0.00000
0.06913
0.51475
0.17494
0.00000
0.33981
0.58388
0.00000
11.25
6/26/2015
6/29/2015
6/29/2015
0.00000
0.06401
0.00000
0.00000
0.00000
0.00000
0.06401
0.00000
12.12
12/17/2014
12/18/2014
12/18/2014
0.00000
0.07675
0.78517
0.00000
0.00000
0.78517
0.86192
0.00000
11.61
6/25/2014
6/26/2014
6/26/2014
0.00000
0.05760
0.00000
0.00000
0.00000
0.00000
0.05760
0.00000
12.24
12/16/2013
12/17/2013
12/17/2013
0.00000
0.07590
0.00000
0.00000
0.00000
0.00000
0.07590
0.00000
10.85
6/26/2013
6/27/2013
6/27/2013
0.00000
0.05397
0.00000
0.00000
0.00000
0.00000
0.05397
0.00000
9.76
12/14/2012
12/17/2012
12/17/2012
0.00000
0.06916
0.00000
0.00000
0.00000
0.00000
0.06916
0.00000
8.76
6/27/2012
6/28/2012
6/28/2012
0.00000
0.11707
0.00000
0.00000
0.00000
0.00000
0.11707
0.00000
7.70
12/15/2011
12/16/2011
12/16/2011
0.00000
0.07159
0.00000
0.00000
0.00000
0.00000
0.07159
0.00000
7.20
6/28/2011
6/29/2011
6/29/2011
0.00000
0.05572
0.00000
0.00000
0.00000
0.00000
0.05572
0.00000
7.86
12/16/2010
12/17/2010
12/17/2010
0.00000
0.06621
0.00000
0.00000
0.00000
0.00000
0.06621
0.00000
7.45
6/28/2010
6/29/2010
6/29/2010
0.00000
0.04568
0.00000
0.00000
0.00000
0.00000
0.04568
0.00000
6.43
12/17/2009
12/18/2009
12/18/2009
0.00000
0.05121
0.00000
0.00000
0.00000
0.00000
0.05121
0.00000
6.96
6/26/2009
6/29/2009
6/29/2009
0.00000
0.06558
0.00000
0.00000
0.00000
0.00000
0.06558
0.00000
6.06
12/18/2008
12/19/2008
12/19/2008
0.00000
0.08701
0.00000
0.00000
0.00000
0.00000
0.08701
0.00000
6.03
6/26/2008
6/27/2008
6/27/2008
0.00000
0.10186
0.00000
0.00000
0.00000
0.00000
0.10186
0.00000
8.42
12/18/2007
12/19/2007
12/19/2007
0.00000
0.08389
10.66327
1.25237
0.00000
9.41090
10.74716
0.00000
9.32
6/27/2007
6/28/2007
6/28/2007
0.00000
0.15541
0.00000
0.00000
0.00000
0.00000
0.15541
0.00000
20.08
12/18/2006
12/19/2006
12/19/2006
0.00000
0.10127
0.27834
0.00000
0.00000
0.27834
0.37961
0.00000
19.31
6/28/2006
6/29/2006
6/29/2006
0.00000
0.10348
0.00000
0.00000
0.00000
0.00000
0.10348
0.00000
17.24
12/19/2005
12/20/2005
12/20/2005
0.00000
0.08475
0.00000
0.00000
0.00000
0.00000
0.08475
0.00000
17.15
6/28/2005
6/29/2005
6/29/2005
0.00000
0.07517
0.00000
0.00000
0.00000
0.00000
0.07517
0.00000
16.96
12/29/2004
12/30/2004
12/30/2004
0.00000
0.07998
0.00000
0.00000
0.00000
0.00000
0.07998
0.00000
16.34
6/28/2004
6/29/2004
6/29/2004
0.00000
0.06396
0.00000
0.00000
0.00000
0.00000
0.06396
0.00000
14.87
12/29/2003
12/30/2003
12/30/2003
0.00000
0.04730
0.00000
0.00000
0.00000
0.00000
0.04730
0.00000
14.33
6/26/2003
6/27/2003
6/27/2003
0.00000
0.04784
0.00000
0.00000
0.00000
0.00000
0.04784
0.00000
12.61
12/27/2002
12/30/2002
12/30/2002
0.00000
0.07795
0.00000
0.00000
0.00000
0.00000
0.07795
0.00000
11.26
6/25/2002
6/26/2002
6/27/2002
0.00000
0.02536
0.00000
0.00000
0.00000
0.00000
0.02536
0.00000
13.01
12/26/2001
12/27/2001
12/28/2001
0.00000
0.02356
0.00000
0.00000
0.00000
0.00000
0.02356
0.00000
14.36
9/26/2001
9/27/2001
9/28/2001
0.00000
0.05259
0.00000
0.00000
0.00000
0.00000
0.05259
0.00000
12.43
6/27/2001
6/28/2001
6/29/2001
0.00000
0.05990
0.00000
0.00000
0.00000
0.00000
0.05990
0.00000
14.50
3/28/2001
3/29/2001
3/30/2001
0.00000
0.06530
0.00000
0.00000
0.00000
0.00000
0.06530
0.00000
13.33
12/20/2000
12/21/2000
12/22/2000
0.00000
0.06673
0.18949
0.18949
0.00000
0.00000
0.25622
0.00000
13.38
9/27/2000
9/28/2000
9/29/2000
0.00000
0.06836
0.00000
0.00000
0.00000
0.00000
0.06836
0.00000
13.48
6/28/2000
6/29/2000
6/30/2000
0.00000
0.06771
0.00000
0.00000
0.00000
0.00000
0.06771
0.00000
13.21
3/29/2000
3/30/2000
3/31/2000
0.00000
0.06876
0.00000
0.00000
0.00000
0.00000
0.06876
0.00000
13.13
12/21/1999
12/22/1999
12/23/1999
0.00000
0.09090
1.57122
1.35908
0.00000
0.21214
1.66212
0.00000
13.18
9/27/1999
9/28/1999
9/30/1999
0.00000
0.05943
0.00000
0.00000
0.00000
0.00000
0.05943
0.00000
14.60
6/25/1999
6/28/1999
6/30/1999
0.00000
0.05348
0.00000
0.00000
0.00000
0.00000
0.05348
0.00000
16.36
3/26/1999
3/29/1999
3/31/1999
0.00000
0.05418
0.00000
0.00000
0.00000
0.00000
0.05418
0.00000
14.77
12/28/1998
12/29/1998
12/31/1998
0.00000
0.07987
1.62987
0.86028
0.00000
0.76959
1.70974
0.00000
14.31
9/25/1998
9/28/1998
9/30/1998
0.00000
0.07369
0.00000
0.00000
0.00000
0.00000
0.07369
0.00000
14.34
6/25/1998
6/26/1998
6/30/1998
0.00000
0.06193
0.00000
0.00000
0.00000
0.00000
0.06193
0.00000
16.18
3/26/1998
3/27/1998
3/31/1998
0.00000
0.05690
0.00000
0.00000
0.00000
0.00000
0.05690
0.00000
16.97
12/24/1997
12/26/1997
12/31/1997
0.00000
0.08986
3.74026
2.29233
1.04633
0.40160
3.83012
0.00000
14.79
9/24/1997
9/25/1997
9/30/1997
0.00000
0.07527
0.00000
0.00000
0.00000
0.00000
0.07527
0.00000
18.72
6/24/1997
6/25/1997
6/30/1997
0.00000
0.07892
0.00000
0.00000
0.00000
0.00000
0.07892
0.00000
17.15
3/24/1997
3/25/1997
3/31/1997
0.00000
0.08311
0.00000
0.00000
0.00000
0.00000
0.08311
0.00000
15.56
12/24/1996
12/26/1996
12/31/1996
0.00000
0.09867
2.00132
1.48504
0.00000
0.51628
2.09999
0.00000
14.88
9/24/1996
9/25/1996
9/30/1996
0.00000
0.10290
0.00000
0.00000
0.00000
0.00000
0.10290
0.00000
15.68
6/24/1996
6/25/1996
6/28/1996
0.00000
0.11224
0.00000
0.00000
0.00000
0.00000
0.11224
0.00000
15.38
3/25/1996
3/26/1996
3/29/1996
0.00000
0.08818
0.00000
0.00000
0.00000
0.00000
0.08818
0.00000
15.18
12/22/1995
12/26/1995
12/29/1995
0.00000
0.09510
1.26972
1.14873
0.00000
0.12099
1.36482
0.00000
14.17
9/22/1995
9/25/1995
9/29/1995
0.00000
0.11320
0.00000
0.00000
0.00000
0.00000
0.11320
0.00000
14.60
6/23/1995
6/26/1995
6/30/1995
0.00000
0.09760
0.00000
0.00000
0.00000
0.00000
0.09760
0.00000
13.69
3/24/1995
3/27/1995
3/31/1995
0.00000
0.10213
0.00000
0.00000
0.00000
0.00000
0.10213
0.00000
12.94
12/23/1994
12/27/1994
12/30/1994
0.00000
0.08162
1.06568
0.47618
0.00000
0.58950
1.14730
0.00000
11.93
9/23/1994
9/26/1994
9/30/1994
0.00000
0.09634
0.00000
0.00000
0.00000
0.00000
0.09634
0.00000
13.24
6/24/1994
6/27/1994
6/30/1994
0.00000
0.08093
0.00000
0.00000
0.00000
0.00000
0.08093
0.00000
12.86
3/25/1994
3/28/1994
3/31/1994
0.00000
0.09986
0.00000
0.00000
0.00000
0.00000
0.09986
0.00000
12.85
12/23/1993
12/27/1993
12/31/1993
0.00000
0.06542
1.09656
0.00000
0.00000
1.09656
1.16198
0.00000
13.28
9/24/1993
9/27/1993
9/30/1993
0.00000
0.08515
0.00000
0.00000
0.00000
0.00000
0.08515
0.00000
14.18
6/25/1993
6/28/1993
6/30/1993
0.00000
0.08773
0.00000
0.00000
0.00000
0.00000
0.08773
0.00000
13.93
3/26/1993
3/29/1993
3/31/1993
0.00000
0.08707
0.00000
0.00000
0.00000
0.00000
0.08707
0.00000
14.37
12/24/1992
12/28/1992
12/31/1992
0.00000
0.08827
0.14672
0.01698
0.00000
0.12974
0.23499
0.00000
13.56
9/25/1992
9/28/1992
9/30/1992
0.00000
0.10014
0.00000
0.00000
0.00000
0.00000
0.10014
0.00000
13.51
6/24/1992
6/30/1992
6/30/1992
0.00000
0.09840
0.00000
0.00000
0.00000
0.00000
0.09840
0.00000
13.33
3/25/1992
3/31/1992
3/31/1992
0.00000
0.08937
0.00000
0.00000
0.00000
0.00000
0.08937
0.00000
12.97
12/26/1991
12/27/1991
12/31/1991
0.00000
0.12251
0.34568
0.03817
0.00000
0.30751
0.46819
0.00000
12.79
9/24/1991
9/25/1991
9/30/1991
0.00000
0.11336
0.00000
0.00000
0.00000
0.00000
0.11336
0.00000
13.16
6/24/1991
6/25/1991
6/28/1991
0.00000
0.11999
0.00000
0.00000
0.00000
0.00000
0.11999
0.00000
12.79
3/25/1991
3/26/1991
3/28/1991
0.00000
0.10784
0.00000
0.00000
0.00000
0.00000
0.10784
0.00000
13.01
12/24/1990
12/26/1990
12/31/1990
0.00000
0.13656
0.43255
0.12870
0.00000
0.30385
0.56911
0.00000
11.53
9/24/1990
9/25/1990
9/28/1990
0.00000
0.13380
0.00000
0.00000
0.00000
0.00000
0.13380
0.00000
11.15
6/25/1990
6/26/1990
6/29/1990
0.00000
0.12649
0.00000
0.00000
0.00000
0.00000
0.12649
0.00000
13.06
3/26/1990
3/27/1990
3/30/1990
0.00000
0.11995
0.00000
0.00000
0.00000
0.00000
0.11995
0.00000
12.72
12/21/1989
12/22/1989
12/30/1989
0.00000
0.12663
0.79563
0.19332
0.00000
0.60231
0.92226
0.00000
12.91
9/22/1989
9/25/1989
9/29/1989
0.00000
0.18042
0.00000
0.00000
0.00000
0.00000
0.18042
0.00000
13.98
6/23/1989
6/26/1989
6/30/1989
0.00000
0.10180
0.00000
0.00000
0.00000
0.00000
0.10180
0.00000
13.39
3/23/1989
3/27/1989
3/31/1989
0.00000
0.09670
0.00000
0.00000
0.00000
0.00000
0.09670
0.00000
11.82
12/23/1988
12/27/1988
12/30/1988
0.00000
0.10037
0.44007
0.44007
0.00000
0.00000
0.54044
0.00000
11.15
9/23/1988
9/26/1988
9/30/1988
0.00000
0.09044
0.00000
0.00000
0.00000
0.00000
0.09044
0.00000
11.19
6/23/1988
6/24/1988
6/30/1988
0.00000
0.08865
0.00000
0.00000
0.00000
0.00000
0.08865
0.00000
10.74
3/29/1988
3/30/1988
3/31/1988
0.00000
0.07259
0.00000
0.00000
0.00000
0.00000
0.07259
0.00000
10.25
Holdings
Full Holdings
As of 3/31/2023
Company Name [Ticker]
Country
Shares (000's)
Current Price ($)
Market Value ($000's)
% of Net Assets
Microsoft Corporation [MSFT]
264
288.30
76,111
4.0
Corteva Inc [CTVA]
1,220
60.31
73,578
3.8
Microchip Technology Incorporated [MCHP]
709
83.78
59,400
3.1
ANSYS Inc. [ANSS]
178
332.80
59,238
3.1
Parker-Hannifin Corporation [PH]
172
336.11
57,811
3.0
Danaher Corporation [DHR]
216
252.04
54,441
2.8
Lennar Corporation Class A [LEN]
516
105.11
54,237
2.8
Adobe Incorporated [ADBE]
140
385.37
53,952
2.8
Ameriprise Financial Inc. [AMP]
168
306.50
51,492
2.7
Merck & Co. Inc. [MRK]
483
106.39
51,386
2.7
Martin Marietta Materials Inc. [MLM]
141
355.06
50,063
2.6
Sony Group Corporation Sponsored ADR [SONY]
543
90.65
49,223
2.6
QUALCOMM Incorporated [QCOM]
382
127.58
48,736
2.5
Coca-Cola Company [KO]
773
62.03
47,949
2.5
Amgen Inc. [AMGN]
197
241.75
47,625
2.5
Atmos Energy Corporation [ATO]
425
112.36
47,753
2.5
Xcel Energy Inc. [XEL]
703
67.44
47,410
2.5
Xylem Inc. [XYL]
442
104.70
46,277
2.4
Autodesk Inc. [ADSK]
216
208.16
44,963
2.4
Coterra Energy Inc. [CTRA]
1,834
24.54
45,006
2.4
Activision Blizzard Inc. [ATVI]
513
85.59
43,908
2.3
Honeywell International Inc. [HON]
230
191.12
43,958
2.3
Procter & Gamble Company [PG]
295
148.69
43,864
2.3
Cincinnati Financial Corporation [CINF]
384
112.08
43,039
2.3
Capital One Financial Corp [COF]
428
96.16
41,156
2.2
Crown Castle Inc. [CCI]
306
133.84
40,955
2.1
RPM International Inc. [RPM]
467
87.24
40,741
2.1
General Dynamics Corporation [GD]
178
228.21
40,621
2.1
Sysco Corporation [SYY]
517
77.23
39,928
2.1
Ecolab Inc. [ECL]
240
165.53
39,727
2.1
Alcon AG [ALC]
555
70.54
39,150
2.0
Blackstone Inc. [BX]
421
87.84
36,981
1.9
Constellation Brands Inc. Class A [STZ]
163
225.89
36,820
1.9
Cie Generale des Etablissements Michelin SA Unsponsored ADR [MGDDY]
2,389
15.29
36,525
1.9
Phillips 66 [PSX]
353
101.38
35,787
1.9
PNC Financial Services Group Inc. [PNC]
280
127.10
35,588
1.9
Cullen/Frost Bankers Inc. [CFR]
313
105.34
32,971
1.7
Medtronic Plc [MDT]
398
80.62
32,087
1.7
Equity LifeStyle Properties Inc. [ELS]
424
67.13
28,463
1.5
Mitsubishi UFJ Financial Group Inc. Sponsored ADR [MUFG]
4,072
6.39
26,020
1.4
Oshkosh Corp [OSK]
310
83.18
25,786
1.4
Commerce Bancshares Inc. [CBSH]
440
58.35
25,674
1.3
Lennar Corporation Class B [LEN.B]
7
89.31
636
0.0
Total
--
--
--
1,877,037
98.1
Cash and Other Assets Less Liabilities
--
--
--
--
1.9
Total Net Assets
--
--
--
--
100%
Sector Allocation
As of 3/31/2023
Large Cap Value Fund (HRLVX)
Russell 1000® Value Index
Information Technology
HRLVX: 17.9%
Benchmark: 8.0%
Financials
HRLVX: 15.3%
Benchmark: 20.0%
Health Care
HRLVX: 11.7%
Benchmark: 16.3%
Industrials
HRLVX: 11.2%
Benchmark: 10.9%
Materials
HRLVX: 10.7%
Benchmark: 4.5%
Consumer Staples
HRLVX: 8.8%
Benchmark: 7.6%
Consumer Discretionary
HRLVX: 7.3%
Benchmark: 6.0%
Utilities
HRLVX: 5.0%
Benchmark: 5.6%
Energy
HRLVX: 4.2%
Benchmark: 8.0%
Real Estate
HRLVX: 3.6%
Benchmark: 4.5%
Communication Services
HRLVX: 2.3%
Benchmark: 8.6%
HRLVX: Large Cap Value Fund
Benchmark: Russell 1000® Value Index
Sector Returns
As of 3/31/2023
Economic Sector
Large Cap Value Fund %
Russell 1000® Value Index %
Information Technology
20.2
16.5
Consumer Discretionary
15.5
5.3
Communication Services
10.4
19.9
Materials
2.5
5.3
Real Estate
1.8
1.9
Energy
0.6
-4.5
Consumer Staples
-0.9
0.3
Utilities
-1.1
-3.2
Industrials
-1.6
3.8
Health Care
-2.4
-5.5
Financials
-3.4
-5.1
Investment Team

Aristotle Capital Management, LLC is a privately owned, registered investment adviser that specializes in equity portfolio management for institutional and individual clients worldwide. They are one of four independent investment teams which collectively operate under a unified platform known as Aristotle. Their mission is to add value with active portfolio management to help their clients reach their long-term financial goals. The firm employs a bottom-up, fundamental investment approach in the management of U.S., international and global equity portfolios.
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From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.
As a result of changing market conditions, total net asset levels, expenses and other factors may change at any time during the current fiscal period and may differ from those shown.
There is no guarantee that the investment objective of the Fund will be achieved. Stock markets are volatile and equity values can decline significantly in response to adverse issuer, political, regulatory, market and economic conditions. Since the Fund typically invests in a limited number of companies, an adverse event affecting a particular company may hurt the Fund's performance more than if it had invested in a larger number of companies. Since the Fund may hold foreign securities, it may be subject to greater risks than funds invested only in the U.S. These risks are more severe for securities of issuers in emerging market regions.
Weighted Average Market Capitalization: The average size of the companies in a portfolio or index as measured by the market value of outstanding shares.
Price/Book: The price-to-book (P/B) ratio evaluates a firm's market value relative to its book value.
Adjusted Trailing P/E Ratio: The Adjusted Trailing P/E (Price/Earnings) Ratio is the closing stock price divided by the sum of the last 12 months actual EPS.
% EPS Growth – Past 3 year: Earnings per share refers to the bottom-line measure of a company’s profitability defined as net income divided by the number of outstanding shares.
Return on Equity: Return on equity (ROE) is a measure of financial performance calculated by dividing net income by shareholders' equity.
Forecasted P/E Ratio: a measure of the P/E (price-to-earnings) ratio using forecasted earnings for the P/E calculation.
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The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures/.
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