American Funds Ltd Term Tax-Ex Bond Fd of America Cl F-1 Shs
LTXFX
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Capital Structure
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 333 S Hope St - 55th Fl (MICG) Los Angeles CA United States of America 90071
- IPO Date
- Mar 15, 2001
- CIK
- 0000909427
- Website
- capitalgroup.com
- Similar Companies
- Business
- American Funds Limited Term Tax-Exempt Bond Fund of America Class F-1 Shares (LTXFX) is an open-end mutual fund managed by Capital Group that seeks to provide current income exempt from regular federal income tax while preserving capital. The fund primarily invests at least 80% of its assets in municipal bonds, including revenue bonds (approximately 89%), general obligation bonds (approximately 4%), and a small portion in non-U.S. bonds and cash equivalents; it maintains a short-to-intermediate duration portfolio with an effective duration of around 3.7-4 years, average yield to maturity of 3.5-3.8%, and monthly dividend distributions. It targets tax-sensitive investors seeking stable income from U.S. municipal securities issued by states, territories, and local governments, with over 700 issuers in its portfolio as of early 2025. Offered through multiple share classes including F-1 (ticker LTXFX, CUSIP 532726403), F-2 (LTEFX), and others, the fund features an expense ratio of 0.64% for Class F-1, comprising 0.22% management fees, 0.17% other expenses, and 0.25% Rule 12b-1 service fees. The portfolio is co-managed by Vikas Malhotra, who joined in July 2021 with 13 years of investment experience, and Mark Marinella, who assumed duties in January 2019 with 38 years of tenure. As part of the American Funds family, it operates within the municipal national short category, benchmarked against the Bloomberg Municipal Short-Intermediate 1-10 Years Index, with total net assets exceeding $5.4 billion across classes and shareholder accounts numbering in the thousands. Incepted on October 6, 1993, the fund is domiciled in the United States and headquartered at Capital Group's principal offices in Los Angeles, California. Capital Group, established in 1931, oversees the fund through its Capital Fixed Income Investors division and maintains global operations across 32 offices, though the fund focuses on U.S. municipal debt markets. Recent portfolio adjustments reflect ongoing credit optimization, with U.S. bonds comprising 92.7-93.1% of assets, revenue bonds at 87.6-89.3%, and turnover at 33-44% in 2024-2025, alongside prospectus updates dated October 1, 2024. No major acquisitions, mergers, or strategic partnerships specific to the fund were announced in 2024-2025; fiscal year-end remains July, with capital gains typically distributed in December and assets growing to $5.7 billion by mid-2025. The fund continues to emphasize high-quality, tax-exempt fixed-income investments amid stable market conditions.