- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Los Angeles, CA 90071 Los Angeles CA United States of America 90071
- IPO Date
- May 1, 2009
- Business
- American Funds 2035 Target Date Retirement Fund (Class R-6) (RFFTX) is a target-date mutual fund managed by Capital Research and Management Company that seeks growth, income, and conservation of capital in varying degrees based on proximity to its 2035 target date, defined as the year an investor expects to retire. The fund invests in a diversified mix of underlying American Funds across categories including growth funds such as AMCAP Fund, The Growth Fund of America, New Perspective Fund, SMALLCAP World Fund, and American Funds Global Insight Fund; growth-and-income funds such as American Mutual Fund, Capital World Growth and Income Fund, Fundamental Investors, International Growth and Income Fund, The Investment Company of America, and Washington Mutual Investors Fund; equity-income and balanced funds such as American Balanced Fund, American Funds Global Balanced Fund, Capital Income Builder, and The Income Fund of America; and fixed income funds such as American Funds Inflation Linked Bond Fund, American Funds Mortgage Fund, American Funds Multi-Sector Income Fund, American Funds Strategic Bond Fund, The Bond Fund of America, Capital World Bond Fund, Intermediate Bond Fund of America, and U.S. Government Securities Fund. As of October 31, 2025, the fund's asset allocation includes approximately 48.8% U.S. equities, 17.5% non-U.S. equities, 25.5% U.S. bonds, 3.2% non-U.S. bonds, and 5.0% cash and equivalents, with a portfolio turnover rate of 7% for fiscal year 2024; it maintains total net assets of $53.71 billion, a net expense ratio of 0.34%, and pays regular dividends and capital gains annually in December.
Launched on February 1, 2007, and headquartered in Los Angeles, California, as part of the American Funds Target Date Retirement Series offered by Capital Group, the fund targets investors planning retirement around 2035 and adjusts allocations along a glide path toward greater emphasis on income and capital preservation post-target date, actively managed for up to 30 years beyond 2035. It serves primarily retirement plan participants, individual investors, and institutional clients in the United States, with exposure to global markets through its underlying funds' holdings in equities and bonds across technology, industrials, financials, health care, and other sectors.
In recent developments, Capital Group, the fund's investment manager, expanded its strategic partnership with KKR in 2025 to integrate private market access into retirement solutions, including a new Target Date Fund solution and public-private model portfolios building on prior launches of hybrid equity and fixed income interval funds such as Capital Group KKR U.S. Equity+ (filed for early 2026 launch) and Capital Group KKR Core Plus+ and Multi-Sector+ (expected first half 2025). The Target Date Retirement Series, including RFFTX, implemented glide path adjustments through 2024, such as increasing exposure to New World Fund, decreasing American Funds Global Balanced Fund, and adding American Funds Emerging Markets Bond Fund, with new target allocations reached by December 31, 2024; the series also incorporated American Funds Global Balanced Fund into the glide path effective January 2, 2015. These enhancements reflect Capital Group's broader strategic shifts to grow fixed income, diversify beyond core equities, and accelerate private asset integration amid competitive pressures.