I’m not an owner of the fund, but looking over the last few annual reports and prospectuses, the investment policy statements haven’t changed from the current one. This may be the difference in what the fund managers see as undervalued and what Morningstar calculates as being a “value stock”. For example, a stock with a higher price to book ratio could be considered undervalued by Wellington, but put in a “growth” bucket by Morningstar.THANK YOU....From Morningstar's latest fund analysis report: "Since Pozen became lead in 2020, he has made some adjustments to the portfolio like eliminating the fund’s historic tilt toward value stocks..."
Now the other question I have, which might be answerable by people who actually own the fund and follow the reports, is: did he tell fund shareholders he was going to do this, and did he explain why?
Statistics: Posted by alec — Sat Dec 28, 2024 1:48 pm