A disciplined approach to growth investing

A flexible approach to global growth investing

An era of innovation

AMCAP strategy

INCEPTION DATE
May 1, 1967

IMPLEMENTATION
Consider for a large-cap growth allocation

OBJECTIVE
Seeks to provide long-term growth of capital 

VEHICLES

AMCAP Fund®

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Capital Group U.S. Growth SMA

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A TIME-TESTED PROCESS

For almost 60 years, AMCAP strategy has taken a disciplined approach to growth investing, focusing primarily on well-managed U.S. companies of any size with sound fundamentals, solid long-term growth records and attractive future growth potential.

AN ERA OF INNOVATION

Cutting-edge developments

We may be entering a “golden age” of health care innovation with new treatments emerging that potentially have wide ranging impacts for millions or even billions of people.

Innovation could lead to a golden age in health care

Global revenue from gene therapy and other regenerative medicine (USD billions)

Global revenue from gene therapy and other regenerative medicine (USD billions). A series of bar charts representing estimates for global revenue from gene therapy and other regenerative medicine. 2021 shows the actual recorded figure for the year, while 2022 through 2030 are estimates: $17 billion in 2021. And an estimated $21 billion in 2022, $25 billion in 2023, $30 billion in 2024, $37 billion in 2025, $44 billion in 2026, $54 billion in 2027, $65 billion in 2028, $79 billion in 2029 and $96 billion in 2030.

Source: Food and Drug Administration (FDA) via Statista, Inc. Estimates provided by Statista as of July 2022.

Well-capitalized companies could fund their own growth

Combined cash and short-term investments across MSCI World Pharmaceuticals Index (USD billions)

Combined cash and short-term investments across MSCI World Pharmaceuticals Index (USD billions). A series of bar charts in the shape of test tubes representing cash and short-term investments across MSCI World Pharmaceuticals Index: $159.2 billion in 2019, $193.9 billion in 2020, $196.1 billion in 2021, $201.3 billion in 2022 and $183.6 billion in 2023.

As of 12/31/23. Figures above represent the aggregated value in U.S. dollars of cash and short-term investments across MSCI World Pharmaceuticals constituents. Sources: Capital Group, FactSet, MSCI, London Stock Exchange Group.

One investment strategy, multiple ways to invest

The first is AMCAP Fund, which is offered in various share classes designed for retirement plans, nonprofits, and other institutional and individual investors.

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For high net worth clients, consider the Capital Group U.S. Growth SMA, which has the same objective and is managed by the same team of portfolio managers.

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

MSCI has not approved, reviewed or produced this report, makes no express or implied warranties or representations and is not liable whatsoever for any data in the report. You may not redistribute the MSCI data or use it as a basis for other indices or investment products.

The MSCI World Pharmaceuticals, Biotechnology and Life Sciences Index is composed of large and mid cap stocks across 23 Developed Markets countries. All securities in the index are classified in the Pharmaceuticals, Biotechnology and Life Sciences industry group (within the Health Care sector) according to the Global Industry Classification Standard (GICS®).