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Make retirement a starting line, not a finish lineA managed income solution designed to provide consistency and longevity 
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Capital Group Funds (Canada)
- Summary
- Global Solutions Committee
- Distributions
Investment Objective
Seeks to generate income, along with conservation of capital and long-term growth of capital. The fund invests primarily in equity and debt securities issued by companies and governments around the world, primarily through investments in underlying funds.
Fund Description
A focus on monthly income
A managed portfolio of funds that invest in a flexible mix of fixed-income, dividend-paying equities and growth-oriented equities on a global basis.
A managed portfolio of funds that invest in a flexible mix of fixed-income, dividend-paying equities and growth-oriented equities on a global basis.
Returns (%)
| 1 month | YTD | 1 year* | Lifetime* | Lifetime (cumulative) | 2022 | 2021 | |
| Series F | 1.40 | 4.02 | 3.98 | 5.06 | 15.95 | -6.78 | 8.14 |
| Series F4 | 1.40 | 4.02 | 3.98 | 5.06 | 15.95 | -6.78 | 8.14 |
*Annualized compound returns.
Portfolio information
| Fund assets ($mil) combined series | $69.9 | |
| Portfolio yield1 | 5.0% | |
| Effective duration (years)2 | 5.9 | |
| Portfolio turnover (2022) | 40% | |
| Trading expense ratio3 | 0.03% | |
Sector diversification
| Equity | 37.0% |
| Financials | 7.5% |
| Energy | 4.2% |
| Industrials | 4.2% |
| Health care | 3.8% |
| Consumer staples | 3.7% |
| Information technology | 3.2% |
| Materials | 2.6% |
| Consumer discretionary | 2.5% |
| Utilities | 1.9% |
| Communication services | 1.9% |
| Real estate | 1.5% |
| Bonds | 55.2% |
| Government | 26.8% |
| Corporate | 22.8% |
| Securitized4 | 5.6% |
| Cash and cash equivalents & other assets less liabilities |
7.8% |
| Total portfolio | 100.0% |
Portfolio characteristics
| Series F | Series F4 | |
| FundSERV | CIF 520 | CIF 8520 |
| MER5 | 0.99% | 0.99% |
| Fund inception | Apr 30, 2020 | Apr 30, 2020 |
| Minimum initial investment | $500 | $5,000 |
| Income distributions paid | Monthly | December |
| Return of capital paid6 | — | Monthly |
| Capital gains paid | December | December |
Global Solutions Committee
| Years with Capital / Years in profession | |
| Hilda L. Applbaum | 28 / 36 |
| Arthur Caye | 18 / 29 |
| Philip Chitty | 19 / 29 |
| Luis Freitas de Oliveira | 29 / 34 |
| Samir Mathur | 10 / 30 |
| Wesley K. Phoa | 24 / 29 |
| Steven T. Watson | 33 / 35 |
Top 10 holdings
| U.S. Treasury | 3.9% |
| Canada Housing Trust | 2.4% |
| Province of Quebec | 1.8% |
| UMBS | 1.7% |
| United Mexican States | 1.7% |
| Province of British Columbia Canada | 1.5% |
| Government of Canada | 1.1% |
| Canadian Natural Resources (equity) | 1.0% |
| Broadcom (equity) | 1.0% |
| Federal Government of Brazil | 1.0% |
| Total top 10 holdings | 17.1% |
Quarterly holdings (PDF)
Geographic diversification
| Equity | Bonds | Portfolio | ||
| United States | 13.4% | 22.5% | 35.9% | |
| Canada | 11.3% | 14.6% | 25.9% | |
| Emerging Markets | 3.2% | 8.9% | 12.1% | |
| Europe ex-UK | 4.7% | 2.9% | 7.6% | |
| United Kingdom | 2.4% | 1.2% | 3.6% | |
| Other | 0.2% | 3.3% | 3.5% | |
| Pacific Basin ex-Japan | 1.2% | 1.0% | 2.2% | |
| Japan | 0.6% | 0.8% | 1.4% | |
| Cash and cash equivalents & other assets less liabilities |
7.8% | |||
| Total portfolio | 100.0% | |||
Bond quality summary
| % of Bonds | |
| AAA/Aaa | 10.3 |
| AA/Aa | 27.4 |
| A | 13.7 |
| BBB/Baa | 21.9 |
| BB/Ba | 13.7 |
| B | 8.9 |
| CCC/Caa & below | 2.8 |
| Unrated | 1.2 |
| Investment grade | 73.3 |
| Below investment grade | 25.4 |
| Cash and cash equivalents includes short-term investments. | |
| 1 | Reflects a weighted yield that includes a dividend yield for equities and yield to worst for bonds. |
| 2 | Includes the impact of callable bonds. Duration is a measure of the approximate sensitivity of a bond portfolio's value to interest rate changes. |
| 3 | As of December 31, 2022. |
| 4 | Includes asset-backed securities, commercial mortgage-backed securities, covered, and mortgage-backed securities. |
| 5 |
Capital Group, at its discretion, currently waives some of its management fees or absorbs some expenses of certain Capital Group funds. Such waivers and absorptions may be terminated at any time, but can be expected to continue for certain portfolios until such time as such funds are of sufficient size to reasonably absorb all management fees and expenses incurred in their operations.
The management expense ratios for the portfolios are based on audited total expenses for the 12-month period ended December 31, 2022, and are expressed as an annualized percentage of daily average net assets during the period. Actual MERs may vary. The following lists the management expense ratios for Capital Group Monthly Income Portfolio (Canada) before waivers or absorptions for the 12-month period ended December 31, 2022: Series A, 2.11%; Series F, 0.99%; Series T4, 2.14%; Series F4, 1.01%; Series I, 0.27%.
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| 6 | Payable on Series T4 and F4 only. |
| Not available to U.S. residents. | |
| Updated on a monthly basis. | |
| Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all dividends and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their value changes frequently and past performance may not be repeated. | |
Hilda L. Applbaum
Years at Capital: 28
Years in profession: 36
Based in San Francisco
Hilda L. Applbaum is a portfolio manager at Capital Group. Earlier in her career, as an equity investment analyst at Capital, Hilda covered global convertible securities. Before joining Capital, she was a principal investment officer and director of research for the California Public Employees Retirement System, and a research analyst and economist at Federal Farm Credit Banks Funding Corp. in New York. Hilda holds a master's degree in economics from New York University and a bachelor's degree in economics from Barnard College of Columbia University graduating magna cum laude. She also holds the Chartered Financial Analyst® designation.
Arthur Caye
Years at Capital: 18
Years in profession: 29
Based in Geneva
Arthur Caye is a portfolio manager at Capital Group. As an equity investment analyst he covers banks in Latin America, the Middle East, Eastern Europe and Africa. He rejoined Capital after resuming an earlier role as a European analyst. Prior to rejoining Capital, Arthur was a managing partner at Lombard Odier, a privately owned Swiss bank. Before his career at Capital, he was an equity analyst at Cazenove and a project finance officer at BNP Paribas. He holds an MBA from Stanford Graduate School of Business, a master’s degree in computer science from École Centrale Paris and an engineering diploma from École Polytechnique Fédérale de Lausanne.
Philip Chitty
Years at Capital: 19
Years in profession: 29
Based in London
Philip Chitty is a fixed income portfolio manager at Capital Group. As a fixed income investment analyst, he covers Western Europe and the U.K. He also serves on the Global Solutions Committee. Earlier in his career at Capital, Philip had macroeconomic responsibility for Europe and Japan. Prior to joining Capital, Philip was a senior European economist with ABN AMRO. Before that, he was an economist with HM Treasury. He holds a master’s degree in economics from Birkbeck College, University of London.
Luis Freitas de Oliveira
Years at Capital: 29
Years in profession: 34
Based in Geneva
Luis Freitas de Oliveira is a portfolio manager at Capital Group. He is chair of Capital International Sàrl. Earlier in his career, as an equity investment analyst at Capital, Luis covered financial institutions in emerging markets. Before joining Capital, he was a corporate banker for Citibank N.A. in Brazil. He holds a master's degree in business administration from INSEAD, France, and a bachelor's degree in economics from the Federal University of Minas Gerais, Brazil.
Samir Mathur
Years at Capital: 10
Years in profession: 30
Based in New York
Samir Mathur is a solutions portfolio manager at Capital Group. His focus is on fund-of-funds and multi-asset solutions. Samir serves on the Global Solutions Committee, Portfolio Solutions Committee and Target Date Solutions Committee. During his tenure at Capital, Samir has led the development of fund-of-funds solutions and several model portfolios, including tax-aware portfolio models, portfolio sleeves and model portfolios for our insurance series of funds. Prior to joining Capital, Samir was a managing director for the multi-asset trading and solutions group at Citigroup. Before that, he worked at Hewlett-Packard. He holds an MBA from University of California, Berkeley, a master’s degree in computer science from University of Southern California and a bachelor’s of technology degree from the Indian Institute of Technology, Delhi.
Wesley K. Phoa
Years at Capital: 24
Years in profession: 29
Based in Los Angeles
Wesley K. Phoa is a solutions portfolio manager at Capital Group. His focus is on fund-of-funds and multi-asset solutions. Wesley serves on the Global Solutions Committee, Portfolio Solutions Committee and Target Date Solutions Committee. Earlier in his career at Capital, Wesley served as a fixed income portfolio manager with a focus on rates-driven and long duration strategies. His areas of research responsibility included interest rates, monetary policy and financial economics. He has also been involved in the development of several fund-of-funds strategies and custom solutions for institutional clients. Prior to joining Capital, he was director of research with Capital Management Sciences and a quantitative analyst with Deutsche Bank in Australia. He holds a PhD in pure mathematics from Trinity College at the University of Cambridge and a bachelor’s degree with honours from the Australian National University. He is an elected member of the Conference of Business Economists and the International Conference of Commercial Bank Economists. He sits on the editorial board of The Journal of Portfolio Management.
Steven T. Watson
Years at Capital: 33
Years in profession: 35
Based in Hong Kong
Steven T. Watson is an equity portfolio manager at Capital Group. Earlier in his career, as an equity investment analyst at Capital, he covered Asian property and transportation, as well as European transportation and utilities companies. Before joining Capital, Steve was a buy-side research analyst for Sanford C. Bernstein & Co. in New York. He holds an MBA in finance from New York University Graduate School of Business Administration, a master's degree in French studies from New York University Institute of French Studies and a bachelor's degree in French from the University of Massachusetts graduating cum laude. He also studied Mandarin Chinese at Wuhan University and the Shanghai Foreign Language Institute in China.
| Capital Group funds and Capital International Asset Management (Canada), Inc., are part of Capital Group, a global investment management firm originating in Los Angeles, California in 1931. 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. |
| Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. |
Distributions
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Historical Prices & Distributions
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| Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. |