American Funds Growth Fund of Amer C GFACX

American Funds’ parent Capital Group announced that veteran manager Donald O’Neal will step off American Funds Growth Fund of America and retire from the firm on Jan. 1, 2025. O’Neal has spent all of his 38 years in the industry at Capital Group and has been a manager here since 1993. He has also served as this strategy’s lead principal investment officer, in charge of allocating capital across the managers’ independently run sleeves. On Sept. 1, 2024, Anne-Marie Peterson will transition into this role. She has served as one of the strategy’s principal investment officers for several years, so this should be a relatively seamless transition. Mark Casey, who has served as a manager here for 11 years, will take over as the principal investment officer of the Capital International Investors subsidiary, replacing O’Neal. While O’Neal’s retirement is a loss, it is one that Capital Group is equipped to handle. These changes do not alter the strategy’s Above Average People rating or its Morningstar Medalist Ratings.