• Morningstar’s fund research process delivers fact-based guidance on how investors can expect funds and managers to perform over the long term. To accomplish this, members of our analyst team conduct face-to-face meetings with the fund managers they cover and thoroughly examine what we consider to be the five pillars of our approach to understanding funds: People, Parent, Process, Performance and Price. The end result is a Morningstar® Fund Research Report that explains how we arrived at a rating and provides guidance on how a fund might fit within a portfolio or behave in different market environments.
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  • Forward-Looking vs. Backward-Looking Ratings

    The Morningstar® Analyst Rating™ (represented as a shield) expresses Morningstar’s forward-looking analysis of a fund. Our analysts assign these ratings on a scale with three positive ratings of Gold, Silver and Bronze, as well as a Neutral and a Negative rating. The Morningstar Rating™ (commonly known as the star rating) is an objective, quantitative assessment of a fund’s past performance.


     
     

    The Value of Our Research Reports

    No single fund is the best choice for every client, and even a Gold-rated fund isn't the best option in every circumstance. Our reports describe important context such as market conditions and how a fund’s investment process might affect its long-term performance, so advisers who read them can see behind the data to gain insights on the funds they recommend. 


     

    How Morningstar Research Helps Advisers

    Morningstar research gives advisers an easy way to filter out market noise and determine the most appropriate investments for their clients. Our five-pillar research framework helps reinforce a consistent, long-term investment process and gives advisers the resources they need to provide justified recommendations which are well suited to client needs.


     
     

    Access to Morningstar Research

    You can get access to our fund research reports in a variety of ways including Morningstar software for advisers and third-party platforms. There are two reports available: a one-page report that delivers a high-level summary of our ratings and research, and a seven-page report that features in-depth analysis of each pillar of our Analyst Rating.


     

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