Investments must at least be rated BBB- and equivalent.
Portfolio managers are not forced to sell at the point of downgrade when values are typically at their lowest.
Fallen angels: bonds that were once investment grade but has since fallen to high yield status.
Data as at 30 June 2023. Sources: Morningstar, Capital Group
*Universe breakdown is based on latest available data from Morningstar.
Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor’s, Moody’s and/or Fitch, as an indication of an issuer’s creditworthiness.
If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies.
Damir Bettini
Fixed Income Portfolio manager
“The balance of risks seems finely poised but now is not a time for complacency, and selectivity is key”
Damir Bettini, Principal Investment Officer of Capital Group Global Corporate Bond Fund (LUX).
For Financial Professional use only
All data as at 30 June 2023 and attributed to Capital Group (unless otherwise stated).
Risk factors you should consider 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.