(PUB) Investing 2016

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

Rating Change (Downgrade)

From

To

GoodHaven Appleseed

´ ‰ ´ ‰ ´ ‰ ´ ‰ ´ ‰ ´ ‰ ´ ‰ ´ ‰ ´ ‰ ´ ‰ ´ ‰ ´ ‰ ´ ‰ ´ ‰ ´ ‰ Œ ´ Œ ´ Œ ´ Œ ´ Œ ´ Œ ´ Œ ‰ Œ • Œ • Œ • Œ • Œ • • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ´ • ‰ • ‰

Longleaf Partners International

Osterweis

First Eagle US Value

MainStay ICAP International

Buffalo Small Cap

We've made plenty of rating changes over the course of 2015 . In order to make sure you haven't missed any, I've collected all the changes from the year in the table below. Normally, I show the prior month's rating, but this time I will show year-end 2014 ratings along- side the current rating . K

American Funds Capital World Bond

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.

MainStay ICAP Select Equity Fairholme Focused Income

Columbia Acorn USA MainStay ICAP Equity

Buffalo Mid Cap

Thornburg International Value Oppenheimer Global Opportunities Manning & Napier World Opportunities Manning & Napier Pro-Blend Extnd Term

Summary of Changes

Manning & Napier Equity

Rating Change (Upgrade)

From

To

Manning & Napier Pro-Blend Mod Term Manning & Napier Pro-Blend Cnsrv Term

T. Rowe Price High Yield

• Œ • Œ ´ • ´ • ´ • ´ • ´ • ‰ ´ ‰ ´ ‰ ´ ‰ ´ ´ ˆ ´ ˆ • ˆ • ˆ • ˆ From To

T. Rowe Price Summit Municipal Intm Vanguard Long-Term Investment-Grade

Vanguard Convertible Securities

Vanguard Energy

Vanguard High-Yield Corporate

Artisan Mid Cap Value Weitz Partners Value

T. Rowe Price Diversified Sm Cap Growth

T. Rowe Price New Horizons

Third Avenue Real Estate Value Fidelity Spartan Extended Mkt Index

T. Rowe Price International Discovery American Beacon Small Cp Val Fidelity Diversified International

Matthews Pacific Tiger

DFA Emerging Markets Value

Fidelity Overseas

FPA Capital

T. Rowe Price New America Growth

PIMCO Emerging Local Bond Artisan Small Cap Value PIMCO All Asset All Authority

Rating Change (Under Review)

Franklin Income Janus High-Yield

Royce Premier Artisan Value

Columbia Acorn International Select

Fidelity Leveraged Company Stock

Janus Flexible Bond

Loomis Sayles Global Bond Perkins Mid Cap Value First Eagle Fund of America

Janus Balanced

New Ratings

To

Vanguard Windsor II

Meridian Small Cap Growth Harbor Mid Cap Value Vanguard Global Equity Fidelity Spartan US Bond Idx

´ ´ ´ ´ ´ ´ ´ Œ Œ Œ ‰ ‰ • • •

Dreyfus Appreciation Investor Metropolitan West High Yield Bond T. Rowe Price Spectrum Income

Eaton Vance Floating Rate

Fidelity Balanced

Neuberger Berman Socially Rspns

USAA Tax Exempt Intermediate-Term Vanguard Global Minimum Volatility Vanguard Dividend Appreciation Idx T. Rowe Price Tax-Free Shrt-Interm

FPA New Income

T. Rowe Price New Income

Matthews China

ASTON/Montag & Caldwell Growth

T. Rowe Price Tax-Free Income Royce Pennsylvania Mutual

FPA US Value

T. Rowe Price Short-Term Bond

Eventide Gilead

Broadview Opportunity Mairs & Power Small Cap

Vanguard High Dividend Yield Index