This week, two funds that are “on fire” and “peer shellacking” garner Gold ratings from Morningstar while another fund snags a bagel and a Negative rating for failing to deliver on its mandate.

The Templeton Developing Markets fund has “failed to deliver,” according to analyst Karin Anderson. She wrote that despite the managers' ability to invest with conviction, particularly throughout the past three-plus years, their stock-picking hasn't been strong enough to make this fund a standout in a category of 173 distinct participants.

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