Talk about a tough grading curve. JP Morgan Funds, which pulled in nearly $20 billion in flows in 2013 (placing it third in the industry only behind Vanguard and Dimensional), got only a C from Morningstar for its Stewardship grade, which looks at such corporate, fund board quality, incentives and so on. "Zounds!" or "Egads" you might declare, or maybe "Morningstar grades tougher than my Third Grade English teacher (and I still really don't get semi-colons.)" Maybe JP Morgan is evolving, maybe JP Morgan needs improving. Maybe this is a sign that no matter how well you think you are doing, this business is always going to expect you to do even better. 

Edited by: Tommy Fernandez


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