FYI: A flurry of manager changes in 2019 has triggered downgrades to several Morningstar Medalist fund ratings. New managers often bring less experience to the table. There's usually a period of uncertainty about how the fund's approach, portfolio, and performance pattern will change since it can take a few months to see what moves the new manager has made. Even if a fund company says the strategy will remain the same, a new manager always puts his stamp on the fund, and there's always the question of whether he'll execute as well as his predecessor. Below are some funds that were downgraded due to manager changes.
Regards,
Ted
https://www.morningstar.com/articles/929707/recent-rating-downgrades-signal-uncertainty.html
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