<div>UPDATE 1-H2O's Allegro fund downgraded by Morningstar on risk concerns</div> <!-- no image --> <div>* H2O says it strongly disagrees with the report (Adds more detail from Morningstar statement, H2O response, background, bullet points)<div class="feedflare"> <a href="http://feeds.reuters.com/~ff/reuters/UKBankingFinancial?a=kut3M6FbRzI:n1urEZfT9mI:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/reuters/UKBankingFinancial?d=yIl2AUoC8zA" border="0"></a> <a href="http://feeds.reuters.com/~ff/reuters/UKBankingFinancial?a=kut3M6FbRzI:n1urEZfT9mI:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/reuters/UKBankingFinancial?i=kut3M6FbRzI:n1urEZfT9mI:V_sGLiPBpWU" border="0"></a> <a href="http://feeds.reuters.com/~ff/reuters/UKBankingFinancial?a=kut3M6FbRzI:n1urEZfT9mI:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/reuters/UKBankingFinancial?i=kut3M6FbRzI:n1urEZfT9mI:F7zBnMyn0Lo" border="0"></a> </div><img src="http://feeds.feedburner.com/~r/reuters/UKBankingFinancial/~4/kut3M6FbRzI" height="1" width="1" alt=""></div> Posted by Reuters