Capital Group announced that portfolio manager Aaron Applebaum will retire from the firm effective July 1, 2022. Applebaum, who joined Capital group in 2008, is a named manager on American Funds Short-Term Tax-Exempt Bond ASTEX and American Funds Limited Term Tax-Exempt Bond Fund of America, and he will transition out of the strategies at that time. Portfolio manager Mark Marinella, who has been named on these strategies since 2019, will remain and serve as the Principal Investment Officer for both. He has 34 years of investment industry experience and has been with Capital Group since 2016.
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