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Rating:American Funds Looks to Its Sister Company for a Boost Not Rated 5.0 Email Routing List Email & Route  Print Print
Thursday, July 19, 2012

American Funds Looks to Its Sister Company for a Boost

News summary by MFWire's editors

American Funds [profile] is turning to its sister company, Capital Guardian [profile], for help on four funds totaling nearly $175 billion in assets.

Jason Kephart of advisor pub InvestmentNews reports that the portfolio managers from American Funds will begin working with the Capital Guardian research team. This change will take effect Sept. 1, and Robert Lovelace, William Robbins, Dylan Yolles and Noriko Chen are the PMs in question.

Kephart notes that American Funds has been struggling since the financial crisis began in 2008. The fund family has seen more than $220 billion in outflows in that time, and its funds rank on average in their 45th percentile compared with their peers for the past five years.

The PMs who will begin working with different research groups head four funds: the $22 billion, four star American Mutual Fund (AMRMX); the four-star, $94 billion American Funds EuroPacific Growth Fund (AEPGX); the four-star, $41 billion American Funds New Perspective Fund (ANWPX); and the three-star, $19 billion American Funds SmallCap World Fund (SMCWX).

Chuck Freadhoff, American Funds' spokesperson, told InvestmentNews that these changes were made "to help make us the best investment professionals we can be. We're taking advantage of research capabilities we never have before. 

Edited by: HFD

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