On June 1, three equity portfolio managers were added to American Funds Income Fund of America. None of the other equity managers are leaving, so that brings the total number of for this allocation fund to eight. (There are also four fixed income managers.) Eight equity managers isn't a lot by American Funds' standards--three of the firm's equity funds have more than ten. As always with American, each manager will independently run a portion of the fund. The three new managers will start with a combined 8% of the fund's assets, but that figure is expected to grow over time. These changes do not impact the fund's Above Average People rating.
Will RIEBX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable RIEBX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the RIEBX 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 RIEBX’s parent organization’s priorities and whether they’re in line with investors’ interests.