Morningstar has just unveiled a medal count for the 106 funds covered under its new Morningstar Analyst Ratings, with five funds garnering Gold; 22 earning Silver, and 39 netting Bronze. Rounding out the rankings, 38 funds receiving Neutral ratings and two received negative.

The research firm launched its new analyst ratings last fall. These ratings are qualitative and separate from the Morningstar Rating for Funds (the "Star Rating"). The firm says they are based on Morningstar's conviction in a fund's ability to outperform its peer group or relevant benchmark on a risk-adjusted basis. The rating is built around five pillars: People, Parent, Process, Performance, and Fees. (For closed-end funds, the reports also discuss some CEF-specific issues such as discount and premium, distribution, board of directors, and leverage.)

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