Capital Group New Perspective Fund (LUX) | Capital Group


Capital Group New Perspective Fund (LUX)

Launched on 31 March 1973 in the US, New Perspective is one of Capital Group’s most well-known global equity strategies. Originally offered only to US-based investors, the strategy is also available to investors via Capital Group New Perspective Fund (LUX) - which is managed by the same experienced team and follows the same approach as the US strategy.

Capital Group New Perspective Strategy: A New Perspective on Global Investing

Portfolio manager, Jody Jonsson, discusses what makes Capital Group’s New Perspective strategy different, and outlines the reasons behind a focus on quality multinationals.

Identifying global champions of today and tomorrow

Our portfolio managers use bottom-up research to identify strong multinationals. We believe that investing in early-stage multinationals can potentially offer investors growth and investing in established multinationals can help provide resilience.


Early-stage multinationals


Established multinationals

Capturing opportunities from changing global trade patterns

For over 45 years, the New Perspective strategy has stayed relevant by using bottom-up research to identify companies that have driven and benefited from changing global trade patterns, and economic and political relationships.

A time-tested strategy built for an evolving world

Our interactive chart below shows that while there have been many reasons not to invest, the strategy has provided consistent growth through major economic, political and social events.
Use the chart below to compare the growth of US$10,000 in the New Perspective strategy1 against the index2 over the years, through the ups and inevitable downs that are an inescapable part of investing. You can build your own chart by customising the date range or viewing results against some of the more infamous market downturns, from the oil crisis of the 70s to the financial crisis of ’08.
Rolling monthly three-year returns from inception to 30 September 2020
Market return2 Number of periods How often the composite outpaced the market3

>0% 'Up market' 455 86%

<0% 'Down market' 80 100%
Investment results as at 30 September 2020 in US$ terms (after fees and expenses — Z share class)
Year Capital Group New Perspective Fund (LUX)4 MSCI ACWI2 Excess return5
2017 20.2 18.6 1.6
2018 13.2 9.8 3.4
2019 2.2 1.4 0.8
2020 25.0 10.4 14.5

Past results are not a guarantee of future results



Capital Group New Perspective Fund (LUX)

An unconstrained approach to global investing focusing on high quality multinational companies


© 2020 Morningstar. All rights reserved. Morningstar Rating™ as at October 31, 2020. Morningstar Analyst Rating™ as at September 14, 2020. Morningstar Category: Global Large-Cap Growth Equity

The information in relation to the index is provided for context and illustration only. The fund is an actively managed UCITS. It is not managed in reference to a benchmark.
Past results are not a guarantee of future results.
Data as at 300 September 2020, unless otherwise stated. Capital Group New Perspective Fund (LUX) was launched on 30 October 2015. The investment results shown here are for the Capital Group New Perspective Composite (defined as a single group of discretionary portfolios that collectively represent a particular investment strategy or objective). This is intended to illustrate our experience and capability in managing this strategy over the long term. Our Luxembourg fund has been a member of this composite since the beginning of November 2015.


  1. Results shown for the Capital Group New Perspective Composite, from inception at 31 March 1973, are asset-weighted and based on initial weights and monthly returns. Net of management fees and expenses for a representative Luxembourg fund share class (Z), applying the maximum Total Expense Ratio (TER). Please visit for further details. Source: Capital Group
  2. MSCI All Country World Index (ACWI) (net dividends reinvested) from 30 September 2011; previously MSCI World (net dividends reinvested). Source: MSCI
  3. Relative returns calculated geometrically for the Capital Group New Perspective Composite, compared with the index in footnote 2. Net of management fees and expenses for a representative Luxembourg fund share class (Z), applying the maximum Total Expense Ratio (TER). Please visit for further details. Annualised returns for periods of more than 12 months. Source: Capital Group
  4. After management fees and expenses for the Z share class, as a representative share class. Please visit for further details. Fund results are based on close of market returns (T+1). Source: Capital Group
  5. The excess return is calculated arithmetically.
This information supplements or enhances required or recommended disclosure and presentation provisions of the GIPS® standards, which if not included herein, are available upon request. GIPS is a trademark owned by CFA Institute.
© 2020 Morningstar, Inc. All rights reserved. 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 nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.


Risk factors you should consider before investing:
  • This material is not intended to provide investment advice or be considered a personal recommendation.
  • The value of investments and income from them can go down as well as up and you may lose some or all of your initial investment.
  • Past results are not a guide to future results.
  • If the currency in which you invest strengthens against the currency in which the underlying investments of the fund are made, the value of your investment will decrease.
  • The Prospectus and Key Investor Information Document set out risks, which, depending on the fund, may include risks associated with investing in fixed income, derivatives, emerging markets and/or high-yield securities; emerging markets are volatile and may suffer from liquidity problems.
The Capital Group companies manage equities through three investment divisions that 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.
For financial professional use only.