These 2 Semiliquid Funds Are the First to Earn a Gold Medalist Rating from Morningstar

Morningstar · Bryan Armour, CFA · 2026-10-23 19:15 UTC

Plus, other highlights from our newly enhanced Medalist Rating methodology for semiliquid funds.

Plus, other highlights from our newly enhanced Medalist Rating methodology for semiliquid funds.

October marked the first fund initiated with a Morningstar Medalist Rating of Gold, and the first set of coverage initiations under the enhanced Medalist Rating methodology for semiliquid funds, which launched on Oct. 16.

The time was right for Morningstar’s first Gold-rated semiliquid fund. Switching to Semiliquid Cost Estimate data gave us more precise Price scores, and drawing from over a year of experience rating semiliquid funds afforded us the confidence to wield our highest-conviction rating.

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