<p> investors must be able to examine on a regular basis, the results of the variety of available resources to reallocate its portfolio promptly and follow the market conditions. In this way, investors have to avoid unnecessary loss of potential market downturns, but also about the management philosophy of the company they invested on </ p> Most of the investment to learn, are investment funds available for an indefinite period, that is, they permit the sale of additional shares of the fund to new investors, to invest in them. Just buy open-end funds or to investors the value of the shares want to sell. </ P> Morningstar Rating </ p> Morning Star Rating offers an up-to-date quantitative assessment of the performance of over 1,300 mutual funds in the past, ended in terms of both risk and return, on a scale 1-5 stars. Classification and other information about each fund is to enable in the form of a pager investors, a brief analysis of the fund for Morningstar farms, including specialists updated at regular intervals valuation multiples and performance data provided <to sehen, / P> 1 / The Classification of Funds </ p> EquitiesNT strategies and minimize the risk of not in the right markets at the right time. </ P> 2/Methodology </ p> The rating methodology for Morningstar ranks funds according to Morningstar to their risk-return (MRAR) scores, which also used in the settings of risks, sales charges or redemption fees. </ P> Evaluation of three years, five years and the period of ten years. The weights for a fund that does not change categories are used during the test period as follows: </ p> • At least three years but less than five 100% rating in three years </ p> • At least five years but less than 1005 years 60% of valuation, 40% three years <calificación / P> • At least ten years 50% 10-year rating, 30% of five years after qualification, </ p> 20% <Calificación <p> three years / P> 3 / expected utility theory (EUT) </ p> The whole rating system is based on expected utility theory (EUT), which holds the basis that investors to switch between the perspectives of risk or uncertainty by comparing values of their expected benefits . decide In simple words, the investors usually low power and potential losses, the unexpectedly good results affected. Therefore, risk aversion, which I drovemonthly performance of a fund usually emphasize downward fluctuations, while the consistent performance rewarded. </ P> 4 / Tax Analysis </ p> Analysis of the control is of great importance in the assessment fund. The means that high income or capital gains generated by increased trade frequent taxable income of the Fund's shareholders. Morningstar Mutual Fund contains estimates of the tax efficiency of a fund on the basis of a business ", as the analysis of the usual" scenario of a typical investor Shopping income tax and capital gains tax rates. Morningstar Mutual Fund assumes that all income and distributions of short-term capital gains taxed at the federal level in the amount of 39.6 percent at the time of distribution. Long-term capital gains taxed at a rate of 20 percent, while after-tax share of reinvested in the fund. </ P>