Capital Group AMCAP Fund (LUX), a Luxembourg-domiciled US equity growth fund, has passed its one-year anniversary and has been awarded a Gold rating from Morningstar in the US Large-Cap Growth Equity category.
The UCITS fund, launched in June 2017, is based on the growth-oriented US equity strategy – AMCAP – which has a 50-year track record of accessing growth within the world’s biggest economy.
The new fund has delivered strong returns since its inception in June 2017, rising by 20.8 per cent and beating the S&P 500 benchmark by 7.5 per cent.
According to Morningstar: “Capital Group AMCAP effectively blends a fairly aggressive, growth-leaning multicap portfolio with ample cash … The portfolio’s hefty weighting in small- and mid-cap stocks combined with its typical double-digit cash stake has helped [the strategy] keep pace in most market rallies while providing some buffer during downturns and allowing management to scoop up bargains.”
Grant Leon, Managing Director, Financial Intermediaries, Europe & Asia, says: “Capital Group is now part of a select group of only five asset management companies that have three or more Gold-rated funds in Europe. We are pleased that our strategy of bringing over longstanding and high-quality investment strategies from the US to Europe and Asia is being recognised by the market.”
Capital Group has been serving investors in Europe since 1962, when the company opened its first ex-US office in Geneva. Capital Group has offices and sales branches in Amsterdam, Frankfurt, Geneva, London, Luxembourg, Madrid, Milan and Zurich.
