The Income Fund of America, Class F-1 Shares
IFAFX
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- The Income Fund of America, Class F-1 Shares (IFAFX) is a mutual fund managed by Capital Group that seeks to provide current income through investments in income-producing securities while secondarily pursuing capital growth. The fund primarily invests in a diversified portfolio comprising dividend-paying common stocks, preferred securities, debt securities including corporate bonds and U.S. government obligations, mortgage- and asset-backed securities; it allocates across U.S. equities (approximately 45.6%), non-U.S. equities (25.1%), U.S. bonds (21.3%), non-U.S. bonds (2.5%), and cash equivalents, with sector exposures led by financials (15.2%), health care (9.2%), and consumer staples (7.2%), and geographic focus primarily in the United States (64.5% of assets), Canada (7.1%), and Europe & Middle East (20.3%). It offers quarterly regular dividends paid in March, June, September, and December, along with annual capital gains distributions in December, and maintains an effective duration of 4.4 years, average yield to worst of 5.3%, and portfolio turnover of 65% as of fiscal year 2025. Operated within the global moderate allocation category, the fund targets individual and institutional investors seeking balanced income and growth, with assets under management reaching $140.6 billion, over 1,192 holdings, and 65,063 shareholder accounts as of November 30, 2025. It features a team of multiple portfolio managers including Hilda Applbaum, Andrew Suzman, and Shannon Ward, applying Capital Group's multiple manager system to diversify decision-making and mitigate key-person risk. Class F-1 shares carry an expense ratio of 0.63%, including 0.22% management fees, 0.16% other expenses, and 0.25% 12b-1 service fees, with a minimum initial investment of $250. Inception dates to December 1, 1973, the fund is part of Capital Group's American Funds family and is headquartered in Los Angeles, California, where parent company Capital Group Companies, founded in 1931, maintains its global base with offices across the Americas, Asia, Australia, and Europe. Recent portfolio adjustments reflect ongoing active management amid market conditions, including a special income dividend of $0.33 and long-term capital gains distribution of $1.5865 per share in December 2025, contributing to year-to-date total distributions of $2.5783; the prospectus was updated October 1, 2025. No major acquisitions, partnerships, or structural reorganizations have been reported for the fund in the last 1-2 years, with focus remaining on its core balanced income strategy.