American Funds New Economy A
ANEFX
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USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Los Angeles, CA 90071-1406 Los Angeles CA United States of America 90071-1406
- IPO Date
- Jan 2, 1986
- CIK
- 0000719608
- Website
- capitalgroup.com
- Similar Companies
- Business
- American Funds The New Economy Fund Class A (ANEFX) is an open-end mutual fund that seeks long-term growth of capital by investing primarily in common stocks of companies positioned to benefit from innovation, new technologies, and products or services addressing the demands of a changing global economy. The fund, managed by Capital Research and Management Company as part of the American Funds family, emphasizes growth-oriented equities across large market capitalizations, with a portfolio typically comprising U.S. equities (approximately 70%), non-U.S. equities (approximately 26%), and cash equivalents; key sectors include information technology (over 43%), health care, consumer discretionary, industrials, and financials, with top holdings such as Broadcom Inc., Microsoft Corp., NVIDIA Corp., and Amazon.com Inc. It offers share classes including Class A with a front-end load of 5.75%, minimum initial investment of $250, and net expense ratio of 0.75%, benchmarking performance against the MSCI All Country World Index and S&P 500 Index. Launched on December 1, 1983, and domiciled in the United States with headquarters at 333 South Hope Street, Los Angeles, California, the fund operates globally, allocating up to 50% of assets outside the U.S., including emerging markets like Latin America, China, and Asia-Pacific ex-Japan. A team of portfolio managers oversees investments, including Harold La (since 2006), Caroline Jones, Mathews Cherian, Richmond Wolf, Tomoko Fortune, Lara Pellini, and Paul Benjamin; as of May 2025, longtime manager Reed Lowenstein departed after over six years on the fund, with the remaining seven managers maintaining continuity under Capital Group's multiple manager approach. Recent developments include a December 2025 distribution of long-term capital gains totaling $7.21 per share, reflecting strong portfolio performance amid market gains in technology holdings, and portfolio turnover of 36% in 2024. Capital Group, the fund's investment adviser, has pursued strategic expansions such as an exclusive partnership with KKR announced in 2024, leading to launches of public-private fixed income interval funds like Capital Group KKR Core Plus+ and Multi-Sector+ in early 2025, alongside filings for equity-focused strategies to broaden access to private markets. These initiatives align with Capital Group's broader push into fixed income, international growth, and hybrid solutions, while maintaining the fund's focus on active equity management amid total assets exceeding $43 billion as of November 2025.