Morningstar is just putting information out there, they have all sorts of language saying they are not giving you investment advice so there isnt much recourse

Morningstar is just putting information out there, they have all sorts of language saying they are not giving you investment advice so there isnt much recourse there as far as I am aware (but I am far from a lawyer). The pensions may only invest in X are hard guidelines so certainly a manager would be in trouble if they violated that but that would be rare, much more likely a manager would just be holding more borderline IG paper and trying to look like they have better IG paper in aggregate.