On June 1, 2022, Capital Group veteran and American Funds New World’s lead principal investment officer Nicholas Grace will step off the strategy. Brad Freer will take over as lead PIO in charge of allocating capital across managers’ independently run sleeves. While Grace managed only roughly 5%-7% of assets, this change is noteworthy given his role. The strategy, which carried a High People rating and a Morningstar Analyst Rating range of Gold to Silver across its 19 U.S. share classes, has been placed Under Review. The strategy remains well-supported with 12 named portfolio managers and more than 150 research analysts at their disposal, though.
American Funds New World A NEWFX
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Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
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Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable NEWFX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the NEWFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of NEWFX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Leader Stepping Off American Funds New World, Rating Under Review
