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On Christmas Day, the New York Stock Exchange and Capital Group’s U.S. offices will be closed.

In observance of the Christmas Day federal holiday, the New York Stock Exchange and Capital Group’s U.S. offices will close early on Tuesday, December 24 and will be closed on Wednesday, December 25. On December 24, the New York Stock Exchange (NYSE) will close at 1 p.m. (ET) and our service centers will close at 2 p.m. (ET)

INVESTMENTS

Quarterly commentaries

Hear from our investment professionals about recent market activity in equities, fixed income and model portfolios.

Equities

Investors should consider remaining balanced with geographic diversity, exposure to dividend payers and growth that isn’t too concentrated.

As of September 30, 2024

Key takeaways for the quarter

  • Global equity markets added to year-to-date gains in the third quarter, with all 28 of our equity, equity-income and balanced funds (mutual funds at F-2 shares and ETFs at market price) delivering positive returns on the quarter.
  • As the U.S. officially entered an easing cycle, differences in returns across sectors and regions imply a broadening opportunity set, a potentially positive setup for long-term equity investors.

Fixed income

We believe important portfolio roles for fixed income funds include income, inflation protection, capital preservation and diversification from equities.

As of September 30, 2024

Key takeaways for the quarter

  • In the third quarter, fixed income markets were positive as the long-awaited start of the U.S. Federal Reserve (Fed) cutting cycle began in September. The yield curve shifted out of the inverted position (where short-term interest rates are higher than long-term rates), although it still remained at near historically flat levels. High-quality credit and longer duration delivered some of the highest returns for the quarter.
  • Over longer term periods, the majority of fixed income American Funds (Class F-2) continued to deliver positive absolute returns and positive relative returns compared to their primary benchmarks.

Model portfolios

Model portfolio asset allocation remains focused on long-term goals and investment opportunities amid geopolitical and economic risks and potentially volatile market shifts.

As of September 30, 2024

Key takeaways for the quarter

  • Equity markets showed signs of broadening, with value-oriented and rate-sensitive sectors leading the way; dividend payers claimed the spotlight.
  • The Portfolio Solutions Committee and Capital Solutions Group introduced new active exchange-traded funds (ETFs) to tax-aware models, including the addition of dividend-focused ETFs and municipal bond ETFs.

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Capital Group offers a wide variety of investments, all backed by deep fundamental research and driven by clients' real-life goals.

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.
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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. This information is intended to highlight issues and should not be considered advice, an endorsement or a recommendation.
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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.

Past results are not predictive of results in future periods.