Morningstar

Muzinich Credit Opps Instl MZCIX Fund Analysis

Morningstar Medalist Rating
| Medalist Rating as of | See Muzinich Investment Hub

Morningstar’s Analysis MZCIX

Will MZCIX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable MZCIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the MZCIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of MZCIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Comanager Nold’s departure doesn’t dent our strong conviction in the fund’s team and process.

Analyst Giovanni Cafaro

Giovanni Cafaro

Analyst

Summary

The strategy’s large and seasoned team headed by a very experienced leader has consistently and successfully executed a disciplined credit-focused approach. Lead manager Michael McEachern boasts more than three decades of experience in credit markets. He spent 14 years at Seix Advisors, latterly as head of their high-yield division. He then joined Muzinich in January 2012 as head of public markets and launched this strategy the following year while setting up the monthly asset-allocation group. This forum assesses the macro environment and the state of credit markets, looking at fundamentals, valuations, and technicals across regions. Its output helps McEachern shape the strategy’s top-down positioning.

by Giovanni Cafaro
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