Pictet-Biotech I EUR |
by Morningstar Manager Research
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This rating and report were issued for a different share class of this fund. The performance and fee structure of this class may vary from that referenced. | ||
Pictet-Biotech I EUR’s Process Pillar rating is Average, but a strong management team still helps this strategy retain its Morningstar Medalist Rating of Bronze. The portfolio maintains a sizable cost advantage over competitors, priced within the second-cheapest fee quintile among peers. The strategy has been able to retain portfolio managers, which builds stability and continuity and results in an Above Average People Pillar rating. The strategy earns an Average Process Pillar rating. Independent of the rating, analysis of the strategy's portfolio shows it is currently, although not consistently, overweight volatility exposure and momentum exposure compared with category peers. High volatility exposure is attributed to companies with a higher standard deviation of returns. And momentum exposure is rooted in holding stocks currently on a winning streak. The strategy's parent organization earns the firm an Above Average Parent Pillar rating, and this rating is inherited from vehicles belonging to the same branding entity and is indirectly assigned by an analyst. | ||
Morningstar Pillars | |
People | Above Average |
Parent | Above Average |
Process | Average |
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