The experienced managers charged with running American Funds Tax-Exempt Bond are supported by a solid analyst team that follows a prudent, research-based approach to build this portfolio. They collaborate well within the muni group and across the broader fixed-income team and display strong and efficient communication and organized succession planning, which earns an upgrade to a High People Pillar rating. The strategy's cheapest share classes now carry Morningstar Analyst Ratings of Gold and Silver, while its more-expensive shares earn a Bronze or Neutral rating.
Will AFTFX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable AFTFX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the AFTFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of AFTFX’s parent organization’s priorities and whether they’re in line with investors’ interests.