Capital Group's[profile]American Funds Fundamental Investors
fund's senior manager, James Drasdo
, will retire at the end of the month, but don't count on major change for this gold-rated fund, Morningstar
writes. Drasdo has run part of the fund for 30 years but other PMs have considerable experience at the fund. Dina Perry
has been a manager at the fund since 1993 and Michael Kerr
has been at the fund since 1999. The remaining managers together average twice the experience of the category's average.
writes that the fund's reputation for good stock-picking, low expenses and diversified portfolio should continue after his departure:
Despite an impending manager departure, the fund's remaining managers remain seasoned, their bottom-up approaches are sound, the portfolio is still diversified, and its expenses are low. Stick with it.
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