(PUB) Morningstar FundInvestor

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A Year’s Worth of Ratings Changes Changes to the 500 | Russel Kinnel

Downgrades

Morningstar Analyst Rating 2012-12

Current Morningstar Analyst Rating

Arbitrage R ARBFX • ´ ASTON/Mntg & Cldwll Grw MCGFX Œ • Calamos Convertible A CCVIX ´ ‰ Calamos Growth & Income A CVTRX ´ ‰ Calamos Growth A CVGRX ´ ‰ Clipper CFIMX Œ ´ Davis Financial A RPFGX Œ ´ Davis NY Venture A NYVTX Œ ´ Fidelity Dividend Growth FDGFX • ‰ Fidelity Floating Rate Hgh Inc FFRHX Œ ´ Hussman Strategic Total Rtrn HSTRX ´ ‰ Janus Global Research T JAWWX • ´ Janus Overseas T JAOSX • ´ Janus Triton T JATTX • ‰ Janus Venture T JAVTX • ‰ Leuthold Core Invstmnt Retail LCORX • ´ Longleaf Partners LLPFX Œ • Matthews Asia Div Investor MAPIX Œ • Matthews China Investor MCHFX Œ • Perkins Mid Cap Value T JMCVX Œ • Perkins Small Cap Value T JSCVX Œ • PIMCO All Asset All Athrty PAUDX Œ • PIMCO Global Multi-Asset PGMDX ´ ‰ Royce Value Svc RYVFX • ´ Scout International UMBWX • ´ Selected American Shares D SLADX Œ ´ T. Rowe Price Hlth Sciences PRHSX Œ ‰ T.Rowe Price Media&Telecm PRMTX • ´ T. Rowe Price Nw Am Grw PRWAX Œ ‰ T. Rowe Price Shrt-Trm Bond PRWBX Œ • Third Avenue Int’l Value Instl TAVIX • ´ Third Avenue Sm Cp Val Instl TASCX ´ ‰ Vanguard Emrg Mkt Stk Id Ad VEMAX • ´ Vanguard Hgh-Yld Corp Inv VWEHX • ´ Vanguard Int’l Explorer Inv VINEX ´ ‰ Vanguard Prcs Metal &Min VGPMX Œ ‰ Vanguard Shrt-Trm Bnd Idx Ad VBIRX Œ •

In case you missed any Morningstar Analyst Rating changes, we are running all of the downgrades and upgrades from the year for all Morningstar 500 funds below. Perritt Fund Replaces JP Morgan Fund JP Morgan US Real Estate SUSIX was quickly liqui- dated in response to a large shareholder redeeming the fund. The fund would have been forced to pay out a 50% capital gains distribution but chose to liquidate instead to spare shareholders the payout. We are replacing it with Bronze-rated Perritt Micro- Cap Opportunities PRCGX . Manager Michael Corbett has built a strong record by finding tiny com- panies with very little Wall Street coverage. He looks for healthy balance sheets and good management. The fund’s 15 -year returns top 80% of its peers. œ

What is Morningstar FundInvestor 500 ? The Morningstar FundInvestor 500 features the industry’s best and most notable funds. Use the list to get new in- vestment ideas and track the funds you already own. FundInvestor subscribers have access to one-page monthly reports on all 500 funds on mfi.morningstar.com. Just type in the name or ticker of the fund in the search box.

Upgrades

Morningstar Analyst Rating 2012-12

Current Morningstar Analyst Rating

Artisan Small Cap Investor ARTSX

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Broadview Opportunity BVAOX

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Fidelity Balanced FBALX

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Fidelity Large Cap Stock FLCSX ´ • Fidelity Small Cap Discovery FSCRX • Œ GoodHaven GOODX ‰ ´ Meridian Contrarian Legacy MVALX ‰ ´ Meridian Growth Legacy MERDX ‰ ´ Parnassus Equity Incm-Inv PRBLX ´ • PIMCO Cmdty Real Ret Strat PCRDX • Œ T. Rowe Price New Asia PRASX ‰ ´ T. Rowe Price New Income PRCIX ´ • T. Rowe Price Overseas Stck TROSX ‰ ´ Vanguard FTSE All-Wd ex-US VFWIX • Œ Vanguard REIT Index Adm VGSLX • Œ Vanguard Shrt-Trm Invst-Grd VFSTX ´ • Vanguard Windsor Inv VWNDX ‰ ´