From Morningstar:

Large number of changes in the process’s implementation, including a focus on quality and disciplined processes, await further review and understanding, as the recent transition from an AUM-based approach to the current quality and disciplined approach occurred with a new portfolio manager in place. Former lead manager Jeff Atherton transitioned off the fund in August 2021, and Nicholas Weindling took over as lead manager, with Weindling already managing a number of Japan-focused strategies. Thus, with questions on the depth of the strategy and the strength of the portfolio management Bürge, coverage on the strategy is suspended until further review.



Read more: Morningstar Fund Ratings: the Monthly Update