The international Morningstar rating for Generali Investments on 31 December 2022: Generali First Selection and Generali Vitality receive the highest Morningstar overall rating of 5 stars, while Generali Raw Materials and Energy, Generali Bond, and Generali Latin America receive 4 stars*.
“Uncertain” is the word that best describes 2022. War on the doorstep of the European Union, inflation at rates reminiscent of the 1980s, the rise of dictatorships and the fastest rate hike in US history are the topics that have shaped capital markets over the past year. Economic recovery expected to occur after the end of the pandemic was weaker than foreseen due to the decline in consumer and investor confidence. The global capital markets in 2022 saw central banks reversing their policies after almost a decade, sharply raising the price of money. This brought high volatility to equity and bond markets, with the latter seeing the biggest slump in the last 50 years.
Despite the great uncertainty, Generali Investments ended the year with results testifying to its consistent professionalism and excellence in the active management of investors’ assets: 12 out of the 15 subfunds of the Generali Umbrella Fund outperformed their benchmarks in the period from 31 December 2021 to 31 December.
The above is also confirmed by the international Morningstar rating.
Five of our funds earned a Morningstar rating of a maximum of 5 or 4 stars, ranking among the top 10% of the funds rated in each category (5 stars) or among the next 22.5% of the funds (4 stars). On 31 December 2022, Morningstar assigned the overall rating of 5 or 4 stars to the following Generali Umbrella Fund subfunds:
- Generali First Selection, ***** stars in the Flexible Equity category
- Generali Vitality, ***** stars in the Equity – Global category
- Generali Bond, **** stars in the EUR Diversified Bond category
- Generali Raw Materials and Energy, **** stars in the Natural Resources Sector Equity category
- Generali Latin America, **** stars in the Latin America Equity
*Morningstar, an independent and highly acclaimed rating agency based in the US, has been rating funds across the world since 1985. Funds are rated according to their risk-adjusted returns, also taking account of their investment policies and expenses. Funds are ranked within their respective categories, with ratings recalculated each month. The highest rating is 5 stars. The best 10% of funds in each category receive 5 stars, the next 22.5% four stars, the middle 35% three stars, the next 22.5% two stars, and the bottom 10% receive one star. Funds are rated for ten-, five-, and three-year periods, and these ratings are combined to produce an overall rating. How the overall rating is formed: for funds with at least 3 years and less than 5 years performance history, their 3-year star ratings will be the same as their overall star ratings. For funds with at least 5-year and less than 10-year records, their 5-year histories will count for 60% of their overall rating and their 3-year rating will count for 40% of the overall rating. For funds with at least 10 years of performance, the overall rating will be weighted as 20% for the 3-year rating, 30% for the 5-year rating, and 50% for the 10-year rating.
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