American Funds American Mutual Fund was one of two mutual funds given a gold rating this week by Morningstar, Inc. Meanwhile, six funds from AllianceBernstein got negative ratings from the company.
The American Mutual Fund was recognized for being a conservative, multiple-manager fund focused on beating the S&P 500.
The six AllianceBernstein funds that received negative ratings were all from the asset manager’s Retirement Series: AllianceBernstein 2000 Retirement Strat A; AllianceBernstein 2010 Retirement Strat A; AllianceBernstein 2015 Retirement Strat A; AllianceBernstein 2025 Retirement Strat A; AllianceBernstein 2045 Retirement Strat A and AllianceBernstein 2050 Retirement Strat A.
In the reports rating these six funds, Morningstar analyst Katie Rushkewicz Reichart wrote: “Continued tinkering at AllianceBernstein Retirement Series results in a bold profile, but it remains difficult to recommend.”
The other fund that received a gold rating was the PIMCO All Asset Institutional Fund, which also received gold last week.