Launched on 31 March 1973 in the US, New Perspective is one of Capital Group’s most well-known global equity strategies.
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.
Growth
Early-stage multinationals
Resilience
Established multinationals
Capturing opportunities from changing global trade patterns
For over 50 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 high-conviction, repeatable, long-term approach using the Capital SystemTM
The managers aim to identify companies that stand to gain from long-term trends and market changes, through this the New Perspective strategy has been able to navigate and gain from changes in global trade patterns.
Since March 1973, the strategy has delivered 12.1% since strategy launch and demonstrated resilience during market declines. It has outpaced the index2 100% of the time in rolling three-year down markets, and 85% of the time in up markets3. The strategy has also generated 4.9 times more wealth than an investment in the index.
Capital Group New Perspective Composite
Rolling monthly three-year returns from inception to 31 March 2024
Market return1 |
Number of periods |
How often the composite outpaced the market2 |
|---|---|---|
>0% 'Up market' |
497 |
85% |
<0% 'Down market' |
80 |
100% |
Capital Group New Perspective Fund (LUX)
Investment results as at 31 March 2024 in USD terms (after fees and expenses – Z share class)
Year |
Capital Group New Perspective Fund (LUX)4 |
MSCI ACWI2 |
Excess return3 |
|---|---|---|---|
2015 From 30 October |
-1.3 |
-2.6 |
1.3 |
2016 |
1.4 |
7.9 |
-6.4 |
2017 |
28.2 |
24.0 |
4.2 |
2018 |
-6.3 |
-9.4 |
3.1 |
2019 |
29.6 |
26.6 |
3.0 |
2020 |
33.1 |
16.3 |
16.9 |
2021 |
17.4 |
18.5 |
-1.1 |
2022 |
-26.2 |
-18.4 |
-7.8 |
2023 |
24.2 |
22.2 |
2.0 |
2024 3 months |
8.0 |
8.2 |
-0.2 |
Capital Group New Perspective Fund (LUX)
An unconstrained approach to global investing focusing on high quality multinational companies
Class Z in EUR. Overall rating among 2187 Global
Large-Cap Growth Equity Funds as at 31 January 2024.
Morningstar Medalist RatingTM as at 3 July 2023.
We're here with the support and solutions you need.
Don't hesitate to reach out if you have questions or need assistance.
John Griffiths
Head of UK Client Group
+44 (0)20 7864 5580
John.Griffiths@capitalgroup.com
Shannon Gaughan
Director
UK & Ireland Institutional
+44 (0)20 7864 5687
Shannon.Gaughan@capitalgroup.com
Fund risks
Capital Group New Perspective Fund (LUX)
Counterparty risk: Other financial institutions provide services to the fund such as safekeeping of assets, or may serve as a counterparty to financial contracts such as derivatives. There is a risk the counterparty will not meet their obligations.
Emerging markets risk: Investments in emerging markets are generally more sensitive to risk events such as changes in the economic, political, fiscal and legal environment.
Equities risk: The prices of equity securities may decline in response to certain events, including those directly involving the companies whose securities are owned by the fund, overall market changes, local, regional or global political, social or economic instability and currency fluctuations.
Liquidity risk: In stressed market conditions, certain securities held by the fund may not be able to be sold at full value, or at all. This could cause the fund to defer or suspend redemptions of its shares, meaning investors may not have immediate access to their investment.
Operational risk: The risk of potential loss resulting from inadequate or failed internal processes, people and systems or from external events.
Sustainability risk: Environmental, social or governance event or condition that, if it occurs, could cause an actual or potential material negative impact on the value of an investment of the fund.
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 guarantee of 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. Currency hedging seeks to limit this, but there is no guarantee that hedging will be totally successful.
- Some portfolios may invest in financial derivative instruments for investment purposes, hedging and/or efficient portfolio management.
- There are additional Counterparty, Emerging markets, Equities, Liquidity, Operational and Sustainability risks associated with this fund.
Data as at 31 March 2024. 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.
- 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 capitalgroup.com for further details. Source: Capital Group
- MSCI All Country World Index (ACWI) (net dividends reinvested) from 30 September 2011; previously MSCI World (net dividends reinvested). Source: MSCI
- Relative returns calculated geometrically for the Capital Group New Perspective Composite, compared with the index in footnote 1. Net of management fees and expenses for a representative Luxembourg fund share class (B), applying the maximum Total Expense Ratio (TER). Please visit capitalgroup.com for further details. Source: Capital Group
- After management fees and expenses for B share class, as a representative share class. Please visit capitalgroup.com for further details. Fund results are based on close of markets (T+1). Source: Capital Group
- The excess return is calculated arithmetically.
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. For more detailed information about Morningstar’s Analyst Rating, including its methodology, please go to global.morningstar.com/managerdisclosures/.
In USD terms. Composite data is shown for illustrative purposes only. Capital Group New Perspective Fund (LUX) has been a member of this composite since the beginning of November 2015.
Results shown for the Capital Group New Perspective Composite, from inception at 31 March 1973 (net of fees, B). Source: Capital Group
Index is MSCI All Country World Index (ACWI) (net dividends reinvested) from 30 September 2011; previously MSCI World (net dividends reinvested). Source: MSCI
In USD terms. Composite data is shown for illustrative purposes only. Capital Group New Perspective Fund (LUX) has been a member of this composite since the beginning of November 2015.
Results shown for the Capital Group New Perspective Composite, from inception at 31 March 1973 (net of fees, B). Source: Capital Group
Index is MSCI All Country World Index (ACWI) (net dividends reinvested) from 30 September 2011; previously MSCI World (net dividends reinvested). Source: MSCI