Donald O’Neal will leave Capital Group after 38 years
13 MAY, 2024
By Jose Luis Palmer from RankiaPro Europe
Donald O’Neal, a veteran portfolio manager at Capital Group, is set to conclude his nearly four-decade journey with the renowned US investment firm. Based in San Francisco, O’Neal will officially retire from Capital Group in January 2025, concluding his tenure on the Capital Group Investment Company of America fund by year-end.
Confirming O’Neal’s planned departure, a spokesperson for Capital Group revealed that Greg Miliotes, an experienced equity manager also hailing from San Francisco, will succeed O’Neal on the Luxembourg-domiciled Investment Company of America fund. With 26 years of investment experience under his belt, Miliotes will seamlessly integrate into the existing multi-manager framework of the €386m fund, which has been catering to European investors since June 2016.
Joining a cohort of eight seasoned managers on the fund, Miliotes will collaborate with industry stalwarts such as James Lovelace, Martin Romo, and Christopher Buchbinder, each boasting extensive investment experience spanning three decades.
Capital Group underscored the resilience of its multi-manager system, highlighting that transitions in the portfolio manager lineup are managed methodically, minimizing disruption to the overarching investment strategy. Emphasizing a team-based decision-making approach, the spokesperson affirmed that the orderly transition ensures continuity and stability across funds and strategies.
In terms of performance, data indicates that the Capital Group Investment Company of America (Lux) fund delivered a commendable three-year total return of 27.6% in US dollar terms, surpassing the S&P 500 TR, which recorded a 26.2% increase over the same period ending April 2024.
