Morningstar Advisor - April/May 2012 - (Page 70)
Screens
No-Hesitation Allocation Funds
By Greg Carlson
Target-date funds have grabbed the spotlight (and assets), but this screen can root out allocation funds upon which you can rely.
Allocation funds haven’t been too popular lately. Investors looking for broadly diversified investments have instead latched onto target-date funds, which tend to own a wider range of securities and conveniently downshift away from equities as investors near retirement (and have made big inroads into retirement plans). However, allocation funds can still be appealing; they often highlight the abilities of one manager or team, while target-date funds typically spread their assets among a large number of managers.
Morningstar divides allocation funds into four categories based on their level of equity exposure and exposure to non-U.S. stocks: aggressive allocation (70%–85% stocks), moderate allocation (50%–70% stocks), conservative allocation (20%–50% stocks), and world allocation (at least 40% in non-U.S. equities and at least 10% in bonds). This Morningstar Principia screen helps identify funds from these categories that boast experienced managers, modest costs, and fine records while keeping risk in check.
( Morningstar Category 5 Aggressive Allocation Or Or Or And And And And And Morningstar Category 5 Moderate Allocation Morningstar Category 5 Conservative Allocation Morningstar Category 5 World Allocation Special Criteria Purchase Constraints Purchase Constraints Min. Initial Purchase Analysis 5 Distinct Portfolios only 5 Closed-New Investment / 5 Qualified Access / < $10,000 5 NA / )
70 Morningstar Advisor April/May 2012
Table of Contents for the Digital Edition of Morningstar Advisor - April/May 2012
Morningstar Advisor - April/May 2012
Contents
Contributors
Letter From the Editor
We’re Too Smart
How Do You Use Alternatives?
Taking the Lead
How to Find Economic Moats
The Beauty of Currencies
No Clarity on Bonds
Four Picks for the Present
Investment Briefs
Performance Chasing, Evaluated
Technology’s Slim Pickings
How Much Is Enough?
The Fear Bubble
Three Traits of a Successful Long-Short Equity Manager
Why Absolute-Return Funds Fail to Deliver
An Economist’s Response to Crises
Undiscovered in Plain Sight
Untangling ETF Tax- Efficiency Myths
Central Banks Driving the Gold Rush
U.S. Industrials Could Add Some Magic to Europe-Weary Portfolios
No-Hesitation Allocation Funds
Our Favorite Mutual Funds
50 Most Popular ETFs
Undervalued Stocks With Wide Moats
The Greatest Story Ever Told
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