Capital Group is changing portfolio managers at a number of its American Funds mutual funds as a result of retirements.
According to a filing with the Securities and Exchange Commission that was first reported by Citywire, portfolio managers Claudia Huntington and Eric Richter are no longer managing the firm’s $72.3 billion AMCAP Fund as of Oct. 1.
In addition, Richter is off the $20.6 billion American Funds Global Balanced Fund, while Huntington no longer manages the firm’s $26.8 billion New Economy fund.
Huntington has retired after 47 years with American Funds; Richter retires on Nov. 30 after 21 years.
Michael Kerr, who was with American Funds for 34 years, has also retired from the firm, where he was a portfolio manager of the firm’s $169 billion American Balanced Fund, the $225 billion Growth Fund of America and the $103 billion Fundamental Investors Fund.