In October 2020, American Funds' parent Capital Group will publicly name firm veteran Reed Lowenstein and relative newcomer Tomoko Fortune to American Funds New Economy's portfolio management team. Their additions coincide with longtime manager Claudia Huntington's retirement, which was previously announced. Following these changes, the strategy will have an experienced seven-person management team from two Capital Group subsidiaries. The strategy's Morningstar Analyst Rating range of Silver to Bronze remains intact, as the additions illustrate the firm's methodical approach to adding investment talent.
American Funds New Economy 529E CNGEX
NAV / 1-Day Return
60.93
/
0.78
%
Total Assets
33.6 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
1.030%
Expense Ratio
1.030%
Fee Level
Low
Longest Manager Tenure
30.46
years
Category
World Large-Stock Growth
Investment Style
Large GrowthMin. Initial Investment
250
Status
Open
TTM Yield
0.00%
Turnover
38%
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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.
Will CNGEX outperform in future?
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 CNGEX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the CNGEX 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 CNGEX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Two Newly Disclosed Managers on American Funds New Economy
