The New Economy Fund - A | American Funds
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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 OR 2

Visit americanfunds.com/retire

IF YOUR PLAN ID BEGINS WITH 34 OR 135

Visit myretirement.americanfunds.com

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GROWTH FUNDS

®

Share Class

Notice: Effective February 1, 2020, the fund's investment objective will be long-term growth of capital. However, current income will remain a consideration in the management of the fund.
Notice: Effective February 1, 2020, the fund’s primary benchmark is MSCI All Country World Index (ACWI).

Summary

A dynamic approach to growth investing. Seeks growth by investing in companies that can benefit from innovation, exploit new technologies or provide products and services that meet the demands of an evolving global economy.
Price at NAV $64.29 as of 12/01/2021 (updated daily)
Fund Assets (millions) $36,050.6
Portfolio Managers 7
Expense Ratio 0.76%
Prospectus (PDF)

Returns at NAV

Returns with Sales Charge

Read important investment disclosures
26.56%
1-year return
18.90%
5-year return
16.21%
10-year return
-0.16%
30-Day SEC Yield Fund With Sales Charge
Returns as of 10/31/21 (updated monthly). Yield as of 10/31/21 (updated monthly).

Asset Mix

U.S. Equities77.0%
Non-U.S. Equities19.8%
U.S. Bonds0.0%
Non-U.S. Bonds0.0%
Cash & Equivalents3.2%
As of 10/31/2021 (updated monthly)

Growth of 10K

Read important investment disclosures
For Class A Shares, this chart tracks a hypothetical investment with dividends reinvested through 12/31/2020.
ANEFX
MSCI All Country World Index (ACWI)
VIEW LARGER CHART

High & Low Prices

Market Capitalization

73.6%
Large
24.3%
Medium
2.1%
Small
$95,683.96 Million
Weighted Average


As of 9/30/2021 (updated quarterly). Morningstar data as of 9/30/2021 (updated quarterly).

Morningstar Ownership ZoneTM

World Large-Stock Growth
Weighted average of holdings
75% of fund's stock holdings
Morningstar data as of 9/30/21 (updated quarterly)
INSIGHTS ON THE MORNINGSTAR OWNERSHIP ZONE

Description

Fund Objective
The investment objective of the fund is long-term growth of capital.
Distinguishing Characteristics
This strategy seeks growth by investing in companies that can benefit from innovation, exploit new technologies or provide products and services that meet the demands of an evolving global economy. While a majority of assets are invested in U.S.-domiciled companies, the strategy has notable flexibility to pursue growth opportunities globally.
Types of Investments
Invests primarily in common and preferred stocks, securities convertible into common stocks, and cash and equivalents.
Holdings Outside the U.S.
May invest up to 50% of assets in securities of companies domiciled outside the U.S.

Fund Facts

Fund Inception 12/01/1983
Fund Assets (millions)
As of 10/31/2021
 $36,050.6
Companies/Issuers
Holdings are as of 9/30/2021 (updated quarterly).
 254+
Shareholder Accounts
Shareholder accounts are as of 10/31/2021
 653,459
Regular Dividends Paid Dec
Minimum Initial Investment $250
Capital Gains Paid Dec
Portfolio Turnover (2020) 38%
Fiscal Year-End Nov
Prospectus Date 02/01/2021
CUSIP 643822 10 9
Fund Number 14

Returns

Month-End Returns as of 10/31/21

Returns at NAV | With Sales Charge
Read important investment disclosures

ANEFX
MSCI All Country World Index (ACWI)
ANNUAL RETURNS CHART

Quarter-End Returns as of 9/30/21

Volatility & Return

Read important investment disclosures

Equities

For Class A Shares, this chart tracks the 10-year standard deviation and 10-year annualized return of the equity funds
ANEFX
MSCI All Country World Index (ACWI)
Other AF Funds
Standard Deviation as of 10/31/2021 (updated monthly) . Annualized return as of 10/31/2021 (updated monthly) .
VIEW LARGER CHART

Yield

12-month
Distribution Rates
30-day SEC Yield
Fund at NAV 0.01% N/A
Fund at MOP 0.01% -0.16%
As of 10/31/2021 (updated monthly)

Valuation

Price/ Price/ Price/
Book Cash Flow Earnings
Fund 4.96 16.22 25.87
MSCI All Country World Index (ACWI) 2.60 10.80 17.30
Fund as of 9/30/21. Index as of 9/30/21.

Portfolio Management

Years of Experience with Fund
Years of Experience with Capital Group
Years of Experience with Investment Industry
Timothy D. Armour 30 38
Mathews Cherian 3 17 24
Tomoko Fortune 1 2 25
Caroline Jones 4 17 22
Harold H. La 15 22 23
Reed Lowenstein 2 23
Richmond Wolf 3 15 24
A boldface number indicates that years of experience with Capital Group is equal to years of experience with investment industry.

Ratings & Risk

Morningstar Rating TM


Overall Morningstar RatingTM
Funds rated(307)
3-yr. Morningstar RatingTM
(307 funds rated)
5-yr. Morningstar RatingTM
(262 funds rated)
10-yr. Morningstar RatingTM
(166 funds rated)
Overall Morningstar Risk Average
HIGH
LOW
Category World Large-Stock Growth
ADVANTAGES AND DISADVANTAGES OF MORNINGSTAR RATINGS
Ratings are based on risk-adjusted returns as of 10/31/2021 (updated monthly).

Risk Measures

Read important investment disclosures
Fund
Standard Deviation 13.70
Sharpe Ratio 1.17
For the 10 Years ending 10/31/21 (updated monthly).
American Funds/
Morningstar Benchmark
MSCI ACWI NR USD
R-squared 86
Beta 0.96
Capture Ratio (Downside/Upside) 78/109
American Funds and Morningstar Benchmark for the 10 Years ending 10/31/21 (updated monthly).
Active Share 72.1%
As of 9/30/21 (updated quarterly)

Holdings

Equities Breakdown

Sectors | Top Industries
Equity Fund Holdings
 Information technology 33.2%
Health care 17.1%
Communication services 15.6%
Consumer discretionary 12.3%
Financials 8.3%
Industrials 6.4%
Consumer staples 0.9%
Utilities 0.9%
Materials 0.8%
Real estate 0.7%
Energy 0.3%

% of net assets as of 9/30/2021 (updated quarterly)

Top Equities

Netflix
4.6%
Microsoft
4.5%
Alphabet
3.1%
Broadcom
2.5%
Ceridian
2.5%
Amazon
2.3%
UnitedHealth Group
2.0%
Thermo Fisher Scientific
1.7%
Kotak Mahindra Bank
1.6%
Facebook
1.4%

% of net assets as of 10/31/2021 (updated monthly)

Geographic Breakdown

Regions | Top Countries
United States
75.7%
Europe
4.2%
Asia & Pacific Basin
14.1%
Other (Including Canada & Latin America)
2.5%
Cash & equivalents
3.5%
% of net assets as of 9/30/2021 (updated quarterly)

The New Geography of Investing ®

Equity Portion Breakdown by Domicile | Equity Portion Breakdown by Revenue
Regions Fund
MSCI All Country World Index (ACWI)
United States 78.2% 59.5%
Canada 1.5% 2.9%
Europe 4.3% 16.6%
Japan 1.8% 6.2%
Asia-Pacific ex. Japan 2.8% 2.9%
Emerging Markets 11.3% 11.9%

% of net assets as of 9/30/2021 (updated quarterly)

Fund Breakdown by Domicile

Regions Fund
MSCI All Country World Index (ACWI)
United States 75.6% 59.5%
Canada 1.4% 2.9%
Europe 4.2% 16.6%
Japan 1.8% 6.2%
Asia-Pacific ex. Japan 2.7% 2.9%
Emerging Markets 10.9% 11.9%
Cash & Equivalents 3.4% 0.0%

% of net assets as of 9/30/2021 (updated quarterly)

Prices & Distributions

Historical Prices Month-End

2021

Historical Prices Year-End

Historical Distributions as of 01/26/21

FIND HISTORICAL DISTRIBUTIONS
2020
Record
Date		 Calculated
Date		 Pay Date
Income Dividend Regular
Income Dividend Special
Cap. Gains Long-Term
Cap. Gains Short-Term
Reinvest NAV
12/16/20 12/16/20 12/17/20 $0.0087 $0.00 $1.4614 $0.00 $58.19
2020 Year-to-Date: Dividends Subtotal: $0.0087 Cap Gains Subtotal: $1.4614
Total Distributions: $1.4701

Fees & Expenses

Fees

Annual Management Fees 0.37%
Other Expenses 0.15%
Service 12b-1 0.24%
As of each fund's most recent prospectus.

Expense Ratio

ANEFX 0.76%
Lipper Global Funds Average 1.18%
Fund as of most recent prospectus. Lipper Category as of 9/30/21 (updated quarterly).

Figures shown are past results and are not predictive of results in future periods. Current and future results may be lower or higher than those shown. Investing for short periods makes losses more likely. Prices and returns will vary, so investors may lose money. View fund expense ratios and returns.

Returns shown at net asset value (NAV) have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Returns shown at maximum offering price (MOP) for Class A shares reflect deduction of the 5.75% maximum sales charge.

Active Share is determined by (1) differences in stock weightings between the fund and the fund's primary benchmark shown in the prospectus (2) inclusion of stocks outside of the benchmark, and (3) exclusion of stocks in the benchmark.

Active Share is neither a predictor of future returns nor a measure of manager skill. Since it measures the difference between a fund's holdings and its benchmark, it could be used in conjunction with other indicators as a measure of portfolio risk or to compare the management fees charged by actively managed funds. While an active share greater than zero is needed to provide returns above the benchmark, there is no indication a particular level of active share has resulted in higher returns than the fund's index. A fund's active share can change significantly over time, thus measuring a single point in time may not be reflective of longer periods. 

The American Funds are managed by multiple portfolio managers who invest based on their highest convictions. The result is a diversified portfolio based on the collection of managers' individual investment decisions. A fund's active share is the product of this process and is not comparable to the active share produced by a fund managed by an individual or a committee of investors. The funds are managed based on their investment objectives and strategies described in the prospectus; managing to active share is not part of any fund's strategy.

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.

Investing outside the United States involves risks, such as currency fluctuations, periods of illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries.

There may have been periods when the results lagged the index(es). The indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index.

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.

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.

Portfolios are managed, so holdings will change. Certain fixed income and/or cash and equivalents holdings may be held through individual mutual funds managed by the investment adviser or its affiliates that are not offered to the public.

Investment results assume all distributions are reinvested and reflect applicable fees and expenses. Returns for less than one year are not annualized, but calculated as cumulative total returns.

When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower and net expenses higher. This information is provided in detail in the shareholder reports. Read details about how waivers and/or reimbursements affect the results for each fund. View results and yields without fee waiver and/or expense reimbursement.

  1. Excludes certain securities in initial period of acquisition.
  2. Cash and equivalents includes short-term securities, accrued income and other assets less liabilities. It may also include investments in money market or similar funds managed by the investment adviser or its affiliates that are not offered to the public.
  3. Figures include convertible securities. The equity breakdown by revenue reflects the portfolio’s publicly traded equity holdings and excludes cash (and fixed income securities, if applicable). Underlying revenue data were compiled by MSCI and account for disparities in the way companies report their revenues across geographic segments. MSCI breaks out each company’s reported revenues into country-by-country estimates. MSCI provides revenue data figures based on a proprietary, standardized model. Revenue exposure at the portfolio and index level was calculated by using FactSet, which takes these company revenue exposures and multiplies by the company’s weighting in the portfolio and index. In this breakdown, Israel has been included in Europe.
  4. The portfolio managers shown are as of each fund's prospectus available at the time of publication.
  5. Lipper ratings for Consistent Return reflect funds’ historical risk-adjusted returns at NAV, adjusted for volatility, relative to peers. Lipper ratings for Expense reflect funds’ expense minimization relative to peers with similar load structures. Lipper ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Lipper ratings for Tax Efficiency reflect funds’ historical success in postponing taxable distributions relative to peers. Tax Efficiency offers no benefit to investors in tax-sheltered accounts such as 401(k) plans. Lipper ratings for Total Return reflect funds’ historical total return performance relative to peers. The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return, Consistent Return, Preservation, Tax Efficiency and Expense metrics. The highest 20% of funds in each classification are named Lipper Leaders for Total Return, the next 20% receive a rating of 4, the middle 20% are rated 3, the next 20% are rated 2, and the lowest 20% are rated 1. Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperleaders.com. Lipper Leader © 2018, Thomson Reuters, All Rights Reserved.
  6. Calculated by Capital Group. Due to differing calculation methods, the figures shown here may differ from those calculated by Morningstar.
  7. Calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by Capital Group.
  8. The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past results are not guarantee of results in future periods. The Morningstar Ratings are based on the share classes of each underlying fund held by the series; other underlying fund share classes may have different performance characteristics.
  9. The months indicated for dividends and capital gains paid represent the anticipated current year ex-dividend date schedule for all share classes.
  10. YTD (year-to-date return): the net change in the value of the portfolio (in percentage terms) from January 1 of the current year to the date shown above.
  11. Expense ratios are as of each fund's prospectus available at the time of publication.
  12. Source for Lipper expense ratio comparison: Lipper, based on front-end load funds, excluding funds of funds, for the most recent fiscal year-ends available as of 9/30/2021.
  13. The Morningstar Ownership Zone™ provides detail about a portfolio's equity investment style by showing the range of stock sizes and styles. A portfolio's Ownership Zone™ is derived by plotting each stock in the fund's portfolio within the proprietary Morningstar Style Box™. The shaded area represents the center 75% of the fund's assets, and it provides an intuitive visual representation of the area of the market in which the fund invests. A "centroid" plot in the middle of the Ownership Zone represents the weighted average of all the fund's holdings. A fund that is concentrated will have a small ownership zone relative to the area of the style box, and broadly diversified fund will have an ownership zone that stretches across many sizes and style. Over a period of time, the shape and location of a fund's ownership zone may vary.
  14. Results for certain funds with an inception date after the share class inception also include hypothetical returns because those funds' shares sold after the funds' date of first offering.
  15. The SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities while the distribution rate reflects the fund’s past dividends paid to shareholders. Accordingly, the fund's SEC yield and distribution rate may differ.

American Funds Distributors, Inc., member FINRA.

Use of this website is intended for U.S. residents only.

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.

©2021 Morningstar, Inc. All Rights Reserved. Some of the information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar, its content providers nor Capital Group are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Information is calculated by Morningstar. Due to differing calculation methods, the figures shown here may differ from those calculated by Capital Group.

Terms and Definitions

Active Share: Click on the Read important investment disclosures link above for more information about Active Share.

Beta: Beta relatively measures sensitivity to market movements over a specified period of time. The beta of the market (represented by the benchmark index) is equal to 1; a beta higher than 1 implies that a return was more volatile than the market. A beta lower than 1 suggests that a return was less volatile than the market. Generally the higher the R-squared measure, the more reliable the beta measurement will be.

Capture Ratio Downside: Ratio of a fund/model/composite’s return during periods when the index was down, divided by the return of the index during those periods. For example, during periods when the index was down, a down-capture ratio greater than 100 indicates the fund/model/composite produced a lower return than the index.

Capture Ratio Upside: Ratio of a fund/model/composite’s return during periods when the index was up, divided by the return of the index during those periods. For example, an up-capture ratio greater than 100 indicates the fund/model/composite produced a higher return than the index during periods when the index was up.

Distribution rate 12-month: The income per share paid by the fund over the past 12 months to an investor from dividends (including any special dividends). The distribution rate is expressed as a percentage of the current price.

Historical Long-Term Capital Gains: When a capital gain distribution is paid, the net asset value per share is reduced by the amount of the payment plus or minus any change in the value of the fund's holdings. Read our explanation of the effect of a capital gain on a fund's price for details. Two types of capital gains are realized by our funds — short-term and long-term. Net short-term capital gains are distributed to shareholders as income dividends and are taxed at ordinary income tax rates. Long-term capital gain distributions are taxed at a maximum 20% rate. The information above classifies gain from the sale or exchange of a capital asset held for more than one year as a long-term capital gain.

Historical Regular Dividend: Funds pay their shareholders dividends (usually from income or dividends earned by the fund) during the year. Regular dividends are typically paid monthly, quarterly or annually. The share prices of all of our equity funds and funds of funds decrease when a dividend is paid. In addition, the share price of Capital World Bond Fund, American Funds Strategic Bond Fund and American Funds Inflation Linked Bond Fund also decrease when a dividend is paid.

Historical Short-Term Capital Gains: When a capital gain distribution is paid, the net asset value per share is reduced by the amount of the payment plus or minus any change in the value of the fund's holdings. Read our explanation of the effect of a capital gain on a fund's price for details. Two types of capital gains are realized by our funds — short-term and long-term. Net short-term capital gains are distributed to shareholders as income dividends and are taxed at ordinary income tax rates. Long-term capital gain distributions are taxed at a maximum 20% rate. The information above classifies gain from the sale or exchange of a capital asset held for more than one year as a long-term capital gain.

Historical Special Dividend: A fund pays a special dividend when the income earned by the fund exceeds the income the fund has paid in the form of regular dividends throughout the year. Special dividends are distributed with the last dividend payment at the end of the calendar year. The share prices of all of our equity funds and funds of funds decrease when a special dividend is paid. In addition, the share prices of Capital World Bond Fund, American Funds Strategic Bond Fund and American Funds Inflation Linked Bond Fund also decrease when a special dividend is paid.

MSCI All Country World Index (ACWI): MSCI All Country World Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market results in the global developed and emerging markets, consisting of more than 40 developed and emerging market country indexes. Results reflect dividends gross of withholding taxes through December 31, 2000, and dividends net of withholding taxes thereafter. This index is unmanaged, and its results include reinvested dividends and/or distributions but do not reflect the effect of sales charges, commissions, account fees, expenses or U.S. federal income taxes.

R-Squared: R-squared is a measure of the correlation between a particular return and that of a benchmark index. A measure of 100 indicates that all of the return can be explained by movements in the benchmark. Generally the higher the R-squared measure, the more reliable the beta measurement will be.

Share Class: Each share class available for a fund has different fees and expense structures, but all of the classes for a particular fund invest in the same pool of securities.

Standard Deviation: Annualized standard deviation (based on monthly returns) is a common measure of absolute volatility that tells how returns over time have varied from the mean. A lower number signifies lower volatility.

Valuation Price-to-Cash Flow: Price-to-cash-flow (P/C) ratio is the average price to cash flow ratio of the individual stocks within a fund/model.

Valuation Price-to-Earnings Ratio: Price-to-earnings (P/E) ratio takes the current price of a stock divided by its earnings per share. The ratio reflects the cost of a given stock per dollar of current annual earnings and is the most common measure of a stock's expense. The higher the P/E, the more investors are paying, and therefore the more earnings growth they are expecting.

Valuation: Price-to-book ratio compares a stock's market value to the value of total assets less total liabilities (book value). Adjusted for stock splits. Price-to-cash-flow (P/C) ratio is the average price to cash flow ratio of the individual stocks within a fund. Price-to-earnings (P/E) ratio takes the current price of a stock divided by its earnings per share. The ratio reflects the cost of a given stock per dollar of current annual earnings and is the most common measure of a stock's expense. The higher the P/E, the more investors are paying, and therefore the more earnings growth they are expecting.

Yield Annualized 30-day SEC: The 30 Day SEC Yield reflects the maximum sales charge.