Investment Strategy
We seek to pick winning funds with superior management and quantitative characteristics linked to strong performance. Our quantitative research uses the most comprehensive mutual fund database in the world to determine the best strategies for long-term investing success. We then supplement those studies with extensive qualitative research of portfolio managers, analysts, and traders through onsite visits and follow-up phone calls.
 
About the Editor
Russel Kinnel is director of manager research for Morningstar, Inc. and editor of Morningstar FundInvestor, a monthly print newsletter for individual investors. He also writes the Fund Spy column for Morningstar.com, the company's investment Web site.

Since joining the company in 1994, Kinnel has covered the Fidelity, Janus, T. Rowe Price, and Vanguard mutual fund families. He helped develop the new Morningstar Rating for funds and the new Morningstar Style Box methodology. He also is co-author of the company's first book, The Morningstar Guide to Mutual Funds: 5-Star Strategies for Success, which was published in January 2003.

 
 
Jul 29, 2016
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About Russel Russ' Photo
Russel Kinnel,
Director of Manager Research and Editor, Morningstar FundInvestor
Russel Kinnel is director of manager research for Morningstar, Inc. and editor of Morningstar FundInvestor, a monthly print newsletter for individual investors.
Featured Posts
Vanguard Dividend Growth Closes to New Investors

Vanguard announced today that Vanguard Dividend Growth VDIGX has closed to new investors. Assets topped $30 billion. It is welcome news, as I wouldn’t want asset growth to overwhelm Wellington’s ability to run the fund. It has a Morningstar Analyst Rating of Gold, as Donald Kilbride has done a great job.

"Vanguard is proactively taking steps to slow strong cash flows to help ensure that the advisor's ability to produce competitive long-term results for investors is not compromised," said Vanguard CEO Bill McNabb. "We have long been committed to protecting the interests of our funds' shareholders, and demonstrate this conviction by closing or restricting funds to stem further growth."

You can read the full statement here.

Westport Funds to Merge Into Hennessy Funds
We criticized Westport funds for lacking succession plans, and now it has announced plans to merge its funds into Hennessy Cornerstone Mid Cap 30 HIMDX. The boards of Westport WPFRX and Westport Select Cap WPSRX approved the merger to convert the funds into institutional shares of the Hennessy fund. The next step is for shareholders of the funds to vote on the proposal in September 2016. If approved, the merger will happen Sept. 26, 2016.

The fund is a 3-star mid-blend fund charging 0.96% in expenses. It has $1 billion in assets, and it is run by Brian Peery and Neil Hennessy. We don’t have a Morningstar Analyst Rating on the fund. If I owned a Westport fund, I probably would sell and look for a replacement rather than waiting around to see what happens with the shareholder vote.

 

 

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