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RETIREMENT PLAN INVESTOR

Use your plan ID (available on your account statement) to determine which employer-sponsored retirement plan website to use:

IF YOUR PLAN ID BEGINS WITH IRK, BRK, 1, 2 OR 754

Visit americanfunds.com/retire

IF YOUR PLAN ID BEGINS WITH 34 OR 135

Visit myretirement.americanfunds.com

INVESTMENT FRAMEWORK

Health care services

Our approach to essential environmental, social and governance (ESG) issues in the U.S. health care sector is distinct and differentiated.

Grounded in decades of experience

Our fixed income and equity analysts, averaging 14 years of experience,* created our health care services investment framework, which guides us as we analyze investments, track key ESG issues and engage with management teams.

Cheryl Frank, Capital Group portfolio manager and analyst, shares her perspective on the key issues that create and destroy value in the health care sector.

Zeroing in on what matters

Our health care services analysts created this U.S.-focused framework using their extensive global-sector experience, our proprietary research, issues identified by the Sustainability Accounting Standards Board (SASB), and engagement with companies and issuers.

Once they had a comprehensive list of ESG issues, our analysts determined the areas they believed were most material: consumer well-being and corporate governance.

Environmental

  • Climate change risk

  • Natural resource management

  • Pollution and waste management

  • Environmental opportunities

Social

  • Human capital management

  • Consumer well-being

  • Social opportunities

Governance

  • Corporate governance

  • Corporate behavior

Consumer well-being

Our analysts concluded there are three critical issues when considering consumer well-being: safety, access and privacy.

Corporate governance

Our analysts prioritized governance issues that may affect the company's dedication to ESG: ethics, integrity and accountability.

Management quality, ethics and accountability

 

Relevance:

Management teams with steadfast integrity are essential to long-term success. Management ethics are a key lens through which to understand all other ESG issues.

 

Best practices:

  • Management incentives linked to patient outcomes

  • Commitment to regulatory compliance in letter and spirit

  • Culture anchored in community service and social well-being

Our evolving approach

As one component of our three-part approach to ESG, our investment frameworks are continually evolving. Through our monitoring process, as well as engagement and proxy, our analysts continuously gather and incorporate new information.

*Average years of experience for the seven equity and fixed income analysts who worked to create the health care services research framework. Calculated as of December 31, 2020.

Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.

Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates. This information is intended to highlight issues and should not be considered advice, an endorsement or a recommendation.

Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.

Use of this website is intended for U.S. residents only. Use of this website and materials is also subject to approval by your home office.

American Funds Distributors, Inc., member FINRA.

This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.