Morningstar Gives Three Funds 'F' Grades
RiverSource Investments, American Century Investments and OppenheimerFunds have received "F" grades from a Morningstar analyst for failing to explain recent changes to shareholders and adding to the paranoia of already shaken investors. "It's about stewardship of a fund, but it's also about communication to shareholders," Andrew Gogerty, Morningstar analyst, told Dow Jones. "None of [the moves] were explained." Gogerty said RiverSource, a unit of Ameriprise Financial, failed to explain why it passed on the cost of a transfer agent switch to shareholders.