American Funds Washington Mutual 529A
CWMAX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Los Angeles CA 90071 Los Angeles CA United States of America 90071
- IPO Date
- Feb 15, 2002
- CIK
- 0000104865
- Website
- capitalgroup.com
- Similar Companies
- Business
- American Funds Washington Mutual Investors Fund Class 529-A (CWMAX) is an open-end mutual fund that seeks to produce income and provide growth of principal consistent with sound common stock investing by primarily investing in common stocks of established, high-quality U.S. companies listed on the New York Stock Exchange or meeting equivalent financial listing standards; it emphasizes issuers demonstrating strong records of earnings and dividends, prudent capital use, and sound corporate management, with a diversified portfolio across sectors including information technology (approximately 23%), financial services (18%), healthcare (13%), industrials (10%), and consumer defensive (8%), as well as minor non-U.S. equity exposure (around 6%). The fund offers Class 529-A shares designed specifically for investment within qualified tuition programs (529 plans) such as CollegeAmerica, featuring a front-end load of 3.50%, net expense ratio of 0.60%, minimum initial investment of $250, and quarterly dividend payments alongside semiannual capital gains distributions; total net assets exceed $195 billion across the fund family, with the 529-A share class managing about $3.61 billion, low portfolio turnover of 29%, and top holdings including Broadcom Inc. (8.42%), Microsoft Corp. (5.52%), UnitedHealth Group Inc. (2.52%), Apple Inc. (2.46%), and Eli Lilly and Co. (2.33%). Operated by Capital Group Companies, LLC (formerly The Capital Group Companies, Inc.), the fund traces its inception to July 31, 1952, with Class 529-A shares launched on February 15, 2002, and is domiciled in the United States with primary operations focused on U.S. investors participating in 529 college savings plans targeting large-blend equity exposure. In recent developments, veteran lead principal investment officer Alan Berro, who has managed the fund since 1997, plans to relinquish his lead role effective January 1, 2026, as part of Capital Group's latest firmwide self-assessment resulting in personnel changes across strategies to ensure continuity and alignment with the fund's mandate; the multiple-manager team, including Alan Wilson (since 2013), Diana Wagner (2014), Jin Lee (2014), Eric Stern (2014), Irfan Furniturewala (2015), Mark Casey (2016), and Aline Avzaradel (2021), will coordinate the transition while maintaining the fund's disciplined approach. The fund continues to support 529 plan enhancements under recent U.S. legislative changes, such as SECURE 2.0 provisions enabling up to $35,000 lifetime rollovers of unused funds to beneficiaries' Roth IRAs (effective 2024) and proposed 2025 spending bill expansions doubling annual K-12 withdrawal limits to $20,000 per student starting tax year 2026, broadening its utility for education savings. No major acquisitions, partnerships, or product launches specific to CWMAX were reported in the last 1-2 years, with focus remaining on core equity management amid assets growth to over $204 billion as of August 2025.