Morningstar recently released its top picks for equity funds that not only perform well but also are shareholder friendly, and now the Chicago fund tracker has applied the same metric to determine the industry's best fixed-income products.

Unlike many of the "excellent"-rated foreign and domestic funds in the Morningstar Stewardship Grades, just one on the fixed-income side is closed to new investors. The T. Rowe Price High Yield was capped in 2004.

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