The French presidency is based on a semi-presidential system where both a president and a prime minister are active participants in the day-to-day administration of the state. France's president appoints a prime minister, who then forms a government.
The Portfolio Management Rating is the same as our Stock Rating except that we incorporate Asset Allocation in the Portfolio Management Rating. The Total Annual Costs Rating captures the all-in cost of being in a fund over a 3-yr holding period, the average holding period of all mutual fund investors.
Mutual funds are traditionally classified by the asset class of investments they own. Some mutual funds only own stocks. These are called equity funds. Some mutual funds only own bonds. These are called bond funds or fixed income funds. Some mutual funds own both stocks and bonds. These are called balanced funds or, less commonly, blended funds. Why would a mutual fund want to own both stocks and bonds?