American Funds The New Economy Fund Class R-2E
RNNEX
NASDAQ- -
USD
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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
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Los Angeles, CA 90071-1406 Los Angeles CA United States of America 90071-1406
- IPO Date
- Aug 29, 2014
- CIK
- 0000719608
- Website
- capitalgroup.com
- Similar Companies
- Business
- American Funds The New Economy Fund Class R-2E (RNNEX) is an open-end mutual fund that seeks long-term growth of capital by investing primarily in common stocks of companies related to new technologies and the new economy, including sectors such as information technology, healthcare, consumer discretionary, industrials, financials, and communication services; the fund maintains global diversification with approximately 70% in U.S. equities, 27% in non-U.S. equities, and a portion in cash equivalents, holding over 189 companies with top positions in Broadcom, TSMC, Microsoft, SK hynix, NVIDIA, Micron Technology, Amazon.com, Alphabet, Eli Lilly, and MercadoLibre. Managed by Capital Research and Management Company, a division of Capital Group headquartered in Los Angeles, California and founded in 1931, the fund began operations on December 1, 1983, with total net assets of $43.52 billion as of late 2025 and a net expense ratio of 1.21% for the R-2E share class. The fund targets investors seeking exposure to innovation-driven segments with global reach across the United States, Canada, Europe, Middle East, Japan, Asia-Pacific, China, and emerging markets outside China. In recent years, the fund shifted its investment objective effective February 1, 2020, to prioritize long-term growth of capital while retaining current income as a secondary consideration; it paid a long-term capital gains distribution of $5.8623 per share in December 2024. Manager changes include the planned departure of long-tenured Harold La (19 years) and Caroline Jones (8 years) effective January 1, 2026, alongside the removal of the Capital Research Global Investors team, leaving the strategy under Capital World Investors with additions such as Peter Gusev; earlier, Reed Lowenstein stepped off in May 2025 after over six years. Capital Group, the parent firm, has pursued broader strategic expansions including a partnership with KKR for private credit offerings added to American Funds lineups in 2025, growth in fixed income and international operations, and its 2025 Investment Outlook amid a buoyant U.S. economy. The R-2E class, launched August 29, 2014, caters to retirement programs with a minimum initial investment of $250.