June 2015: Fund Commentaries

Posted on July 08, 2015

We focused our attention on accessibility, information displays, and commentary design. Our analysis considered large-cap domestic products offered by each firm in our coverage group. This is the first time we explored this topic for Advisor Monitor. Specifically, our analysis focused on the following:

  • Accessibility
  • Information provided
  • Composition and design

This report includes detailed findings for 17 of the 19 firms that we track; two firms in our coverage group do not provide product commentaries. Based on our review, four firms received As for providing strong product commentaries that were easy to access, concise, made efficient use of charts or tables, and provided sufficient fund management details. Nine firms were awarded Bs, and four received Cs. In general, these firms offered decent commentaries, but typically failed to provide engaging content.

A majority of firms (88%) offer fund commentaries as a publicly accessible resource. Around 41% of firms provide fund commentaries through dedicated Literatures Centers, while 35% provide a dedicated tab to fund commentaries on product profiles. Only one firm offers a section dedicated entirely to hosting fund commentaries. Most firms (95%) publish fund commentaries on a quarterly basis.

Among the 17 firms that offer fund commentaries:

  • 88% of firms offer product commentaries publicly
  • 53% offer product commentaries for all funds
  • 70% of firms provide fund manager details
  • 95% publish commentaries on a quarterly basis
  • 41% make fund commentaries accessible through dedicated Literature Centers
  • 35% offer a dedicated tab for fund commentaries on product pages