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Capital Group reviews target‑date suite; board approves American Funds 2065 and 2070 for DC lineup
Summary
Capital Group presented performance and design details for its target‑date funds; the Pension Board voted to add American Funds 2065 and 2070 vintages to the defined‑contribution lineup and reviewed participant-use metrics and recordkeeper relationships.
Capital Group representatives reviewed the firm’s target‑date strategy and performance and answered board questions on glide‑path design, risk management, and participant behavior. After the presentation, the board voted to include two additional American Funds target‑date vintages — 2065 and 2070 — in the city’s defined‑contribution menu.
Bridal McCloskey, a Capital Group relationship manager, introduced Jeff Bent (multi‑asset investment director) and described the firm’s target‑date approach. Capital Group told the board the target‑date suite ranked in the top deciles for multi‑year periods (Capital Group cited average percentile ranks in the low teens for one year and top decile for five‑ and ten‑year periods) and attributed performance to a mix of security selection, strategic allocation and tactical flexibility. Capital Group said it manages roughly $2.8…
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