The changes they are making to their Analyst Rating make it a better gauge of which funds will perform well in the future, as opposed to rewarding those that performed well in the past. They believe a fund’s performance assessment is most meaningful when it takes place within the context of a broader evaluation of its investment process, people, and parent firm. Their research has found that these are the three most predictive pillars, so they are refocusing their rating around them. A thorough assessment of a strategy’s process, people, and the parent then yield an assessment of how likely it is to outperform its peers.