Morningstar has released ratings changes for several key mutual funds used to fund retirement.

Morningstar rates mutual funds on their ability to outperform markets on a risk-adjusted basis over the long term. The Chicago-based firm has five tiers to their rating: three positive ratings, called the Morningstar Medalists (Gold, Silver and Bronze), and a neutral and negative rating.

Several of the biggest names in the 401(k) industry received rating changes in April. Blackrock Capital Aggregation fund was upgraded to Bronze from neutral. Diamond Hill small-cap fund was upgraded to gold from silver.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.