TD Monthly Income - I, Fund, performance (2024)

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The Morningstar Star Rating for Stocks is assigned based on an analyst's estimate of a stocks fair value. It is projection/opinion and not a statement of fact. Morningstar assigns star ratings based on an analyst’s estimate of a stock's fair value. Four components drive the Star Rating: (1) our assessment of the firm’s economic moat, (2) our estimate of the stock’s fair value, (3) our uncertainty around that fair value estimate and (4) the current market price. This process culminates in a single-point star rating that is updated daily. A 5-star represents a belief that the stock is a good value at its current price; a 1-star stock isn't. If our base-case assumptions are true the market price will converge on our fair value estimate over time, generally within three years. Investments in securities are subject to market and other risks. Past performance of a security may or may not be sustained in future and is no indication of future performance. For detail information about the Morningstar Star Rating for Stocks, please visit here

Quantitative Fair Value Estimate represents Morningstar’s estimate of the per share dollar amount that a company’s equity is worth today. The Quantitative Fair Value Estimate is based on a statistical model derived from the Fair Value Estimate Morningstar’s equity analysts assign to companies which includes a financial forecast of the company. The Quantitative Fair Value Estimate is calculated daily. It is a projection/opinion and not a statement of fact. Investments in securities are subject to market and other risks. Past performance of a security may or may not be sustained in future and is no indication of future performance. For detail information about the Quantiative Fair Value Estimate, please visit here

The Morningstar Medalist Rating is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please go to here

The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.

For information on the historical Morningstar Medalist Rating for any managed investment Morningstar covers, please contact your local Morningstar office.

For more detailed information about conflicts of interest, including EU MAR disclosures, please see the “Morningstar Medalist Rating Analyst Conflict of Interest & Other Disclosures for EMEA”here

As an enthusiast and expert in financial analysis and investment, I bring to you a wealth of knowledge and experience in understanding the intricacies of fund performance and evaluation. My expertise extends to interpreting complex financial data and navigating investment landscapes.

To establish my credibility, let's delve into the concepts mentioned in the provided article related to Morningstar and its rating methodologies:

  1. Morningstar Star Rating for Stocks:

    • Morningstar assigns star ratings to stocks based on an analyst's estimate of a stock's fair value.
    • The rating is a projection/opinion and not a statement of fact.
    • Four components drive the Star Rating: assessment of the firm's economic moat, estimate of the stock's fair value, uncertainty around the fair value estimate, and the current market price.
    • The rating is updated daily, and a 5-star rating suggests that the stock is considered a good value at its current price.
  2. Quantitative Fair Value Estimate:

    • This represents Morningstar's estimate of the per share dollar amount that a company's equity is worth today.
    • It is based on a statistical model derived from the Fair Value Estimate assigned by Morningstar's equity analysts.
    • The estimate is a projection/opinion and not a statement of fact.
    • Similar to the Star Rating, investments in securities are subject to market and other risks.
  3. Morningstar Medalist Rating:

    • The Medalist Rating is a summary expression of Morningstar's forward-looking analysis of investment strategies.
    • It uses a rating scale of Gold, Silver, Bronze, Neutral, and Negative.
    • The rating indicates which investments are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time.
    • Pillar ratings (People, Parent, and Process) and a fee assessment form the basis for the conviction in the investment merits.
    • The ratings are not statements of fact, and they involve unknown risks and uncertainties.
    • They should not be used as the sole basis for evaluating an investment product.
  4. Conflicts of Interest and Disclosures:

    • Morningstar emphasizes the importance of understanding conflicts of interest.
    • The Morningstar Medalist Rating Analyst Conflict of Interest & Other Disclosures for EMEA provides detailed information about conflicts of interest, including EU MAR disclosures.

In conclusion, Morningstar employs a comprehensive approach to assess stocks and investment strategies, considering factors like economic moat, fair value estimates, and uncertainty. Investors should be aware of the projection nature of these ratings and consider the associated risks. Additionally, understanding conflicts of interest is crucial for a transparent evaluation of investment products.

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