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 mutual fund 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.

 
 
Aug 22, 2014
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About Russel Russ' Photo
Russel Kinnel,
Director of Fund Research and Editor, Morningstar FundInvestor
Russel Kinnel is director of mutual fund research for Morningstar, Inc. and editor of Morningstar FundInvestor, a monthly print newsletter for individual investors.
Featured Posts
Investors Pivot on Low-Quality Bond Funds

Fund flow data is out for July, and the most interesting developments were in low-quality debt.

Flows for high-yield bond funds have reversed dramatically. They had $7.9 billion (about 2% of total category assets) exit in July, following $466 million in outflows in June. Prior to that, the category had enjoyed more than $1 billion in inflows in each of the previous months of the year. Flows in categories with limited liquidity are of particular note because they can start to be self-fulfilling. However, we're a ways from that happening.

Bank-loan funds also saw sizable outflows to the tune of $1.9 billion. It was a smaller amount than high-yield funds, but bank loans are less liquid than high-yield bonds.

Elsewhere, many U.S. stock categories had sizable outflows.

On the positive side, intermediate-bond funds and foreign large-blend funds had hefty inflows of $6.6 billion and $4.2 billion, respectively.

If we look at the split on passive/active lines, we see that passive funds continue to win investors' hearts. A total of $14 billion net went into long-term passive funds versus $2.6 billion in inflows for active funds.

On a fund basis, the top draws were Vanguard Total Stock Market Index, Vanguard Total International Stock Index, PIMCO Long-Term U.S. Government, and BlackRock Strategic Income Opportunities with between $2.6 billion and $1.3 billion in inflows.

PIMCO High Yield and BlackRock High Yield each had a little more than $1 billion in net outflows.

Interview With Fidelity Puritan Manager
Ramin Arani stopped by our offices and sat down for this video interview with me.

 

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