Capital Group recently announced that 32-year firm veteran Thomas Hogh will retire on July 1, 2023. In anticipation of that retirement, Hogh will give up his principal investment officer and portfolio management duties on American Funds Capital World Bond, effective March 1, 2023. On that date, Philip Chitty, who joined Capital Group in 2004 and has been a comanager on the strategy since March 2021, will take over as principal investment officer and global rates specialist Thomas Reithinger will join as a comanager. Andrew Cormack, who came to Capital Group from Western Asset in 2018 and serves on the Capital Group’s portfolio strategy group, will remain a comanager on the still three-person strategy. Given the experience and expertise of the continuing managers and the team-based management approach to Capital Group’s fixed-income offerings, these changes do not alter our view. American Funds Capital World Bond retains its Morningstar Analyst Rating of Neutral across all share classes.
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