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.
Will CNGFX outperform in future?
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The Process Pillar is our assessment of how sensible, clearly defined, and repeatable CNGFX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the CNGFX 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 CNGFX’s parent organization’s priorities and whether they’re in line with investors’ interests.