Chanticleer

Lessons from a fund that has beaten the market for 50 years

Since 1973, Capital Group’s New Perspective Fund has ridden the shifting tides of world trade. But with deglobalisation taking hold, will the strategy hold up?

Mar 31, 2024 – 5.00am

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Few fund managers feel the weight of history quite like Jody Jonsson, the vice chairman of the $US2.5 trillion ($3.8 trillion) investment giant Capital Group.

Jonsson is one of the managers of the $US136 billion New Perspective Fund, which started in 1973 as a global fund with a specific focus: taking advantage of evolving international trade patterns by investing in multinational companies. The fund’s record is impressive, beating its benchmark by an average of 300 basis points a year for more than 50 years.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.