Why We Rate American Funds New Perspective Highly

Key Morningstar Metrics for American Funds New Perspective ANWPX

• Morningstar Medalist Rating

  : Gold

• : Above Average
• : High
• : High

American Funds New Perspective continues to benefit from an accomplished management roster and a deep global analyst bench, even as it undergoes a long-planned leadership transition. Combined with the strategy’s proven investment approach, these strengths support its High People and Above Average Process ratings.

Although the strategy lost a veteran manager last year and will see another departure this year, Capital Group has executed the leadership transition thoughtfully, and the strategy remains in capable hands. The firm allocates assets between subsidiaries Capital International Investors and Capital World Investors. In early 2025, Barbara Burtin succeeded long-tenured leader Jody Jonsson as head of CWI’s team, with Jonsson stepping off at the end of last year. In mid 2026, lead Principal Investment Officer Rob Lovelace handed off responsibilities to Noriko Chen and will step off the fund at year-end. Chen has run a sleeve of the strategy for 13 years and has been involved with it for more than 25 years. Burtin, who has been with the firm for 17 years, has managed her portion of the portfolio for seven years. Together, they provide experienced leadership through this transition.

Most of this globally based management team remains intact, ensuring continuity. As lead PIO, Chen will direct the whole strategy, be in charge of allocating capital to the managers, and lead the CII team, which includes Lovelace, Anne-Marie Peterson, Aline Avzaradel, and Kohei Higashi. Burtin oversees CWI’s team of Brady Enright, Andraz Razen, Patrice Collette, and Steven Watson. Both teams draw on two separate roughly 50-person analyst groups, with each analyst team also managing a dedicated slice of the portfolio.

The team applies a well-established approach focused on global multinationals positioned to benefit from evolving trade dynamics. Typically, these are financially stable, established firms. Each manager independently runs a sleeve but must adhere to requirements that companies derive at least 25% of revenue from outside their home region and maintain a minimum $3 billion market cap at purchase.

The strategy has consistently proved reliable in protecting capital during market downturns, benefiting investors over the long term. Over the trailing 10-, 15-, and 20-year periods through May 2026, the US-domiciled mutual fund outperformed the MSCI ACWI benchmark and ranked in the global large-stock growth Morningstar Category’s top 35% or better each period. In 2025, the strategy landed in the category’s top quintile but lagged the index.

Overall, this remains a top-tier global equity option with strong prospects to build on its long record of success.

American Funds New Perspective: Performance Highlights

The US-domiciled mutual fund has consistently delivered strong results.

Its trailing returns for the five-, 10-, 15-, and 20-year periods through May 2026 all ranked in the global large-stock growth category’s top 35% or better. The strategy placed in the category’s top half in nine out of 10 of the past calendar years, and placed in the top third for six of those years. Since its 1973 inception and during the longest-tenured manager, Robert Lovelace’s 20-plus years, it has trounced the category norm, the MSCI ACWI, and its former benchmark, the MSCI World Index. During Lovelace’s tenure, the strategy also beat the global large-growth category benchmark, MSCI ACWI Growth, with which it is more closely correlated.

The strategy’s focus on multinational blue chips has seldom hurt shareholders. In its 45-plus calendar years, the strategy has lost money in only nine (1974, 1990, 2000-02, 2008, 2011, 2018, and 2022). In each of those years, the strategy lost significantly less than the benchmark, except for 2011. In 2022, the strategy’s 25.8% decline was less than the category average and the growth index but lagged the MSCI ACWI. As growth stocks bounced back in 2023 and 2024, the strategy lagged the growth index but outpaced the peer norm. In 2025, the strategy handily outperformed the category but slightly lagged both indexes as a handful of picks weighed on results like Novo Nordisk NVO, Carrier Global CARR, and Meta Platforms META.