On Sept. 1, 2021, American Funds announced that David Riley, portfolio manager of American Funds Capital Income Builder CAIBX since 2004, will step down immediately from his duties and retire from the firm at the end of the year. The loss of a veteran manager is significant, and this abrupt departure is out of the norm for the firm, which typically has gradual manager transitions. That said, the fund still boasts a number of highly experienced investors at the helm, and its People rating remains Above Average.
Will CIRFX 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 CIRFX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the CIRFX 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 CIRFX’s parent organization’s priorities and whether they’re in line with investors’ interests.