American Funds’ parent Capital Group announced that veteran manager Jonathan Knowles will step off American Funds New World on Jan. 2, 2024, and retire from the firm on April 1, 2024. Knowles has spent seven of his 31 years at Capital Group managing this strategy. In November, Matt Hochstetler will officially join the management team, bringing the total number of named managers to 13. While Knowles’ retirement is a loss, it is one that Capital Group is equipped to handle. These changes do not alter the strategy’s High People rating or its Morningstar Medalist Ratings.
- NAV / 1-Day Return 72.15 / 0.29 %
- Total Assets 51.1 Bil
-
Adj. Expense Ratio
1.230%
- Expense Ratio 1.230%
- Distribution Fee Level Low
- Share Class Type Retirement, Medium
- Category Diversified Emerging Mkts
- Investment Style Large Growth
- Min. Initial Investment 250
- Status Open
- TTM Yield 0.57%
- Turnover 39%
Morningstar’s Analysis RNWCX
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Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
People Pillar
Parent Pillar
- Current Portfolio Date
- Equity Holdings 377
- Bond Holdings 196
- Other Holdings 14
- % Assets in Top 10 Holdings 16.8
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector
Capital Group Central Cash Fund
5.39
2,661,031,897
Cash and Equivalents