On June 1, 2022, industry veteran Matthews Cherian, one of American Funds New Economy’s comanagers, will take over as the strategy’s lead principal investment officer in charge of allocating capital across the managers’ independently run sleeves. Tim Armour, who has served in this role for several years, will remain on the fund as a comanager. This change doesn’t alter the strategy’s Morningstar Analyst Ratings.
American Funds New Economy 529A CNGAX
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Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
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Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable CNGAX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the CNGAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of CNGAX’s parent organization’s priorities and whether they’re in line with investors’ interests.
An Upcoming Leadership Transition on American Funds New Economy Does Not Change Our View
