Morningstar Fund Report  | 11/04/2025Print

Capital Group New Economy Fund (LUX) Z

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Capital Group New Economy Fund (LUX) Z
Fund11.2-21.121.025.4-8.9
+/-Cat-3.3-3.15.010.2-2.4
+/-B’mrk-6.8-2.2-1.31.5-0.3
 
Category: Global Large-Cap Growth Equity
Category Benchmark: Morningstar Gbl Growth TME ...
Key Stats
NAV
09/04/2025		 USD 15.77
Day Change 9.67%
Morningstar Category™ Global Large-Cap Growth Equity
ISIN LU2032731189
Fund Size (Mil)
09/04/2025		 USD 847.80
Share Class Size (Mil)
09/04/2025		 USD 64.26
Max Initial Charge 5.25%
Ongoing Charge
17/02/2025		  0.90%
Morningstar Research
Analyst Report10/07/2024
Stephen Welch, Senior Analyst
Morningstar, Inc

Capital Group New Economy's deep resources and flexible approach merit a Morningstar Analyst Rating of Silver for its cheapest share classes and Bronze for its pricier ones.This strategy's management team has seen changes recently, but it remains...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People24
Parent25
Process24
Performance
Price
Investment Objective: Capital Group New Economy Fund (LUX) Z
The fund seeks long-term growth of capital. The Fund seeks to achieve its objective by investing in securities of companies that can benefit from innovation, exploit new technologies or provide products and services that meet the demands of an evolving global economy. In pursuing its investment objective, the Fund invests primarily in common stocks that the Investment Adviser believes have the potential for growth. The Fund also invests in common stocks with the potential to pay dividends. The Fund may invest a significant portion of its assets in issuers based outside the United States, including those based in developing countries.
Returns
Trailing Returns (GBP)09/04/2025
YTD-9.46
3 Years Annualised7.57
5 Years Annualised10.75
10 Years Annualised*10.79
12 Month Yield 0.00
Management
Manager Name
Start Date
Harold La
07/11/2019
Paul Benjamin
01/05/2023
Click here to see others
Inception Date
07/11/2019

Category Benchmark
Fund BenchmarkMorningstar Benchmark
MSCI ACWI NR USDMorningstar Gbl Growth TME NR USD
Portfolio Profile for  Capital Group New Economy Fund (LUX) Z28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock95.020.0095.02
Bond0.000.000.00
Property0.000.000.00
Cash4.520.014.50
Other0.500.030.48
Top 5 Regions%
United States76.34
Asia - Developed7.20
Eurozone4.10
Latin America3.61
United Kingdom2.87
Top 5 Sectors%
Technology39.76
Healthcare17.78
Consumer Cyclical13.33
Communication Services9.85
Financial Services9.40
Top 5 HoldingsSector%
Broadcom IncTechnologyTechnology6.03
Microsoft CorpTechnologyTechnology4.90
Amazon.com IncConsumer CyclicalConsumer Cyclical4.88
Meta Platforms Inc Class ACommunication ServicesCommunication Services3.93
Eli Lilly and CoHealthcareHealthcare2.57
Increase Decrease New since last portfolio
Capital Group New Economy Fund (LUX) Z
Growth Of 1000 (GBP) 31/03/2025
Fund:  Capital Group New Economy Fund (LUX) Z
Category:  Global Large-Cap Growth Equity
Category Index:  Morningstar Gbl Growth TME NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 2018*2019*2020202120222023202431/03
Price Return1.5821.3628.1811.22-21.1521.0525.40-8.93
+/- Category6.32-2.884.48-3.35-3.075.0210.21-2.36
+/- Category Index----6.85-2.17-1.261.45-0.33
% Rank in Category1377256873231181
Trailing Returns (GBP)09/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day9.67   10.982.61
1 Week-1.55   6.461.63
1 Month-4.90   6.220.93
3 Months-12.54   2.880.31
6 Months-5.21   5.190.31
YTD-9.46   4.061.07
1 Year2.08   9.960.30
3 Years Annualised7.57   6.171.14
5 Years Annualised10.75   2.99-0.67
10 Years Annualised*10.79   2.770.31
 
Category: Global Large-Cap Growth Equity
Category Index: Morningstar Gbl Growth TME NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
2025-8.93---
202411.824.81-1.738.89
20236.734.220.568.22
2022-11.71-12.925.12-2.42
2021-0.717.192.052.40
2020-10.9025.554.1310.04
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAbove AverageAverage4 star
5-YearAbove AverageAverage4 star
10-Year*Above AverageAverage4 star
Overall*Above AverageAverage4 star
 
Category :  Global Large-Cap Growth EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev14.32 %
3-Yr Mean Return8.36 %
 
3-Yr Sharpe Ratio0.29
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Gbl Growth TME NR USD  Morningstar Gbl Growth TME NR USD
3-Yr Beta0.930.93
3-Yr Alpha0.650.65
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 204888-
Market Capitalisation% of Equity
Giant54.79
Large24.14
Medium14.54
Small6.19
Micro0.34
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings23.390.97
Price/Book5.061.02
Price/Sales3.280.88
Price/Cash Flow9.340.57
Dividend-Yield Factor0.760.67
 
Long-Term Projected Earnings Growth13.811.23
Historical Earnings Growth11.680.87
Sales Growth11.351.25
Cash-Flow Growth23.561.94
Book-Value Growth9.390.84
 
Category: Global Large-Cap Growth Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock95.020.0095.02
Bond0.000.000.00
Property0.000.000.00
Cash4.520.014.50
Other0.500.030.48
World Regions28/02/2025
 % of EquityRelative to Category
United States76.341.16
Canada1.190.61
Latin America3.613.25
United Kingdom2.870.56
Eurozone4.100.38
Europe - ex Euro1.750.33
Europe - Emerging0.000.00
Africa0.000.00
Middle East0.110.56
Japan1.640.53
Australasia0.000.00
Asia - Developed7.201.96
Asia - Emerging1.190.46
 
Category: Global Large-Cap Growth Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials0.690.24
Consumer CyclicalConsumer Cyclical13.331.08
Financial ServicesFinancial Services9.400.63
Real EstateReal Estate0.120.19
Consumer DefensiveConsumer Defensive1.040.21
HealthcareHealthcare17.781.28
UtilitiesUtilities0.090.10
Communication ServicesCommunication Services9.851.19
EnergyEnergy1.101.38
IndustrialsIndustrials6.850.63
TechnologyTechnology39.761.34
 
Category: Global Large-Cap Growth Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings189
Total Number of Bond Holdings0
Assets in Top 10 Holdings34.08
NameSectorCountry% of Assets
Broadcom Inc311United States6.03
Microsoft Corp311United States4.90
Amazon.com Inc102United States4.88
Meta Platforms Inc Class A308United States3.93
Eli Lilly and Co206United States2.57
NVIDIA Corp311United States2.56
MercadoLibre Inc102Brazil2.43
Taiwan Semiconductor Manufacturing Co... 311Taiwan2.36
SK Hynix Inc311Korea, Republic Of2.35
Micron Technology Inc311United States2.06
 
Increase Decrease New since last portfolio
Category: Global Large-Cap Growth Equity
 
Management
Name of CompanyCapital International Management Company Sàrl
Phone-
Website -
AddressLuxembourg
 Kennedy   -
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date07/11/2019
Fund Advisor(s)
Capital Research and Management Company
Fund ManagerHarold La
Manager Start Date07/11/2019
Career Start Year1998
 
Biography
Harold H. La is an equity portfolio manager at Capital Group. He has 26 years of investment industry experience and has been with Capital Group for 25 years. Earlier in his career, as an equity investment analyst at Capital, Harold covered Indian IT services, Asian semiconductors, Korean small-cap companies, Asian banks and diversified financials. Prior to joining Capital, Harold was an auditor at KPMG. He holds an MBA from Kellogg School of Management at Northwestern University and a bachelor's degree from the University of Western Ontario. He also holds the Chartered Financial Analyst® designation. Harold is based in Hong Kong.
Fund ManagerPaul Benjamin
Manager Start Date01/05/2023
Career Start Year2006
 
Biography
Paul Benjamin is an equity portfolio manager at Capital Group. He has 18 years of investment industry experience, all with Capital Group. Earlier in his career at Capital, he was an equity investment analyst, covering U.S. large-cap software companies. Prior to joining Capital, he managed the European operations for Interelate, a technology start-up funded by Goldman Sachs. He holds an MBA from Stanford Graduate School of Business and a bachelor's degree in finance and religion from Northwestern College graduating magna cum laude. Paul is based in Los Angeles.
Fund ManagerCaroline Jones
Manager Start Date07/11/2019
Career Start Year1999
Education
University of Pennsylvania (Wharton), M.B.A.
 
Biography
Caroline Jones is an equity portfolio manager at Capital Group. She has 25 years of investment industry experience and has been with Capital Group for 20 years. Earlier in her career at Capital, as an equity investment analyst, she covered U.S. homebuilding, U.S. health care services, regional banks and small- and mid-cap diversified banks. Before joining Capital, she was a financial analyst at Goldman Sachs & Co. She holds an MBA from the Wharton School of the University of Pennsylvania where she graduated as a Palmer scholar, and a bachelor's degree in commerce from the University of New South Wales in Australia. Caroline is based in San Francisco.
Fund ManagerLara Pellini
Manager Start Date01/02/2022
Career Start Year2002
 
Biography
Lara Pellini is an equity portfolio manager at Capital Group. She has 22 years of investment industry experience, all with Capital Group. Earlier in her career at Capital she was an equity investment analyst, covering European, Eurasian and Latin American retail and luxury goods. Lara began her career at Capital as a participant in The Associates Program, a two-year series of work assignments in various areas of the organization. Prior to joining Capital, she was a research fellow for the International Labor Organisation in Geneva, and a research assistant to the economics chair of the IULM University in Milan. She holds a master's degree in economics of labor and industrial relations from the London School of Economics and a laurea in public relations and economics of information from the IULM University, Milan. Lara is based in London.
Fund ManagerMathews Cherian
Manager Start Date01/02/2020
Career Start Year1997
 
Biography
Mathews Cherian is an equity portfolio manager at Capital Group. He has 27 years of investment industry experience and has been with Capital Group for 20 years. Earlier in his career at Capital, as an equity investment analyst, he covered U.S. and European semiconductor companies. Prior to joining Capital, Mathews was a senior equity analyst for Pangaea Capital in Boston. Before that, he was an equity analyst with David L. Babson and a strategy consultant with the Boston Consulting Group. He holds an MBA from Harvard Business School, and both a master’s degree in computer science and a bachelor’s degree in electrical science and engineering from Massachusetts Institute of Technology. Mathews is based in San Francisco.
Fund ManagerRichmond Wolf
Manager Start Date01/02/2020
Career Start Year1997
 
Biography
Richmond Wolf is an equity portfolio manager at Capital Group. As an equity investment analyst he covers U.S. medical technology companies. He has 27 years of investment industry experience and has been with Capital Group for 18 years. Prior to joining Capital, he was the assistant vice president for technology transfer at the California Institute of Technology and a cofounder of WebEventBroadcasting and Xen Golf. He holds a PhD from the California Institute of Technology, and a bachelor's degree from Princeton University graduating cum laude. Richmond is based in Los Angeles.
Fund ManagerTomoko Fortune
Manager Start Date01/10/2020
Career Start Year1996
Education
Stanford University, M.B.A.
 
Biography
Tomoko Fortune is an equity portfolio manager at Capital Group. She has 28 years of investment industry experience and has been with Capital Group for five years. Prior to joining Capital, Tomoko worked as a managing partner at Criterion Capital Management. Before that, she was an associate at Goldman Sachs & Co. She holds an MBA from Stanford Graduate School of Business and a bachelor's degree in economics from Dartmouth College. Tomoko is based in San Francisco.
Fund ManagerReed Lowenstein
Manager Start Date01/10/2020
Career Start Year1998
 
Biography
Reed Lowenstein is a portfolio manager at Capital Group. He has 25 years of investment industry experience, all with Capital Group. Earlier in his career at Capital, he was an equity investment analyst with research responsibility for U.S. and European materials, electrical equipment, consumer durables & apparel, as well as European semiconductors, machinery and renewable energy companies. He holds a master's degree from Stanford Graduate School of Business and a bachelor's degree in drama from Tufts University, graduating magna cum laude and Phi Beta Kappa. Reed is based in New York.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.25%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge0.75%
Ongoing Charge0.90%
Purchase Details
Minimum Investments
Initial-
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes