American Funds' parent Capital Group announced that veteran manager Chapman Taylor will step off American Funds Developing World Growth and Income on July 1, 2024, and retire from the firm on July 25, 2024. Taylor has spent 29 years of his 33-year career at Capital Group and has been a manager here since the strategy's 2014 inception. He also serves as the principal investment officer for the fund in charge of allocating capital across the managers' independently run sleeves. In February, Saurav Jain will take over as a principal investment officer. While Taylor's retirement is a loss, it is one that Capital Group is equipped to handle. In the past two years, the firm has named three managers to the strategy, including Jain. This change does not alter the strategy's Above Average People rating or its Morningstar Medalist Ratings.
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