American Funds New Economy Fund Cl F-1 Shs
ANFFX
NASDAQ- -
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.Growth Rates
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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
- 333 S Hope St - 55th Fl (micg) Los Angeles CA United States of America 90071
- IPO Date
- Mar 15, 2001
- CIK
- 0000719608
- Website
- capitalgroup.com
- Similar Companies
- Business
- American Funds New Economy Fund Class F-1 (ANFFX) is an open-end mutual fund managed by Capital Group that seeks long-term growth of capital through investment primarily in common stocks of companies domiciled primarily in the United States that benefit from changes related to new technologies, improved production methods, or innovative business strategies; the fund invests across sectors including information technology (approximately 45%), health care (12%), consumer discretionary (11%), industrials (9%), financials (9%), and communication services (8%), with a diversified portfolio of around 192 issuers featuring top holdings such as Broadcom Inc., Microsoft Corp., NVIDIA Corp., Capital Group Central Cash Fund, and SK Hynix Inc.; it allocates roughly 70% to U.S. equities, 27% to non-U.S. equities spanning developed Asia, Eurozone, Latin America, and the United Kingdom, and maintains a small cash position of about 3-5%. The fund, originally launched in 1983 with the Class F-1 share class introduced in March 2001, is headquartered at 333 South Hope Street in Los Angeles, California, and is available for sale in the United States with a minimum initial investment of $250, net expense ratio of 0.79%, and portfolio turnover of 36% as of 2024. Recent developments include a December 2024 long-term capital gain distribution of $5.86 per share and the planned departure of portfolio manager Reed Lowenstein effective May 2025 after six years on the strategy, leaving seven other managers including Harold La (since 2006), Caroline Jones, Mathews Cherian, Richmond Wolf, Tomoko Fortune, Lara Pellini, and Paul Benjamin; the fund operates as part of Capital Group's broader American Funds family, which oversees total net assets exceeding $43 billion for this strategy across share classes as of late 2025, amid parent company efforts to expand fixed income, international presence, and diversification strategies announced in 2024.