About CNGAX
American Funds The New Economy Fund® Class 529-A is a global large-cap growth mutual fund designed to pursue long-term capital appreciation by investing primarily in equities. The fund targets companies that benefit from innovation, evolving technologies, and changing economic landscapes, with an emphasis on firms poised to thrive in the modern global economy. Its diversified portfolio holds both U.S. and international stocks, with notable concentrations in the information technology, health care, financials, and consumer discretionary sectors. As of April 2025, U.S. equities accounted for approximately 73.5% of the portfolio, while non-U.S. equities made up about 21.2%.
The fund manages significant assets and includes over 196 holdings, reflecting a broad approach to growth opportunities. Top portfolio positions often feature leading technology and consumer companies such as Broadcom, Amazon, Microsoft, and Meta Platforms. Offered through the CollegeAmerica 529 plan, this share class is specifically structured to help investors save for future education costs, combining the growth orientation of the New Economy Fund with the tax advantages available in 529 plans. The fund’s active management aims to adapt to shifts in global markets and industry trends, maintaining a forward-looking investment strategy.
Fund Family Capital Group
Category Global Multi-Cap Growth
Performance Rating High
Risk Rating Above Average
Stock Exchange Nasdaq
Ticker Symbol CNGAX
Share Class Class 529-a
Index MSCI AC World NR USD
CNGAX had a total return of 23.30% in the past year, including dividends. Since the fund's
inception, the average annual return has been 10.94%.
