Following the Morningstar OBSR Analyst Ratings Meeting on 10th April 2014, we have downgraded the Invesco Japanese Value Equity fund to a Morningstar OBSR Analyst Rating™ of Neutral. The fund previously held a Bronze rating. Fund performance over recent years has been disappointing and has not been in keeping with our expectations given the managers’ investment style. While we acknowledge the co-managers Kunihiko Sugio and Daiji Ozawa are experienced managers, our conviction in their ability to add value over the benchmark in a meaningful way through time has waned. Therefore, we believe a Neutral rating is a more appropriate reflection of our conviction in the fund’s merits.
See the latest Morningstar OBSR fund rating news here.
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