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American Funds American Mutual 529E CMLEX

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Morningstar’s Analysis

Will CMLEX outperform in future?

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Manager Departure at American Funds American Mutual; Ratings Unchanged

Strategist

Analyst Note

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American Funds American Mutual manager Dylan Yolles left the fund and parent firm Capital Group on Feb. 4, 2021. Yolles had an undisclosed consensual relationship with a Capital Group associate, in violation of the company's code of conduct, and he resigned once the relationship became known. Yolles' departure, though abrupt, does not alter the strategy's Morningstar Analyst Rating range of Gold to Silver, depending on share-class fees.

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