Capital Group Launches Multi-Sector Income Fund
Capital Group, a Los Angeles-based investment management firm overseeing $365 billion in fixed-income assets, has rolled out a new fixed-income fund.

The American Funds Multi-Sector Income Fund invests across four sectors in the credit spectrum: high-yield corporates, investment-grade corporates, emerging markets and securitized debt. It also may use up to 20% of assets under management to invest opportunistically in other fixed-income securities, including U.S. government debt, municipal debt and non-corporate credit.

Damien McCann, Kirstie Spence, Scott Sykes, Shannon Ward and Vince Gonzales will be managing the new Multi-Sector Income Fund, which will be benchmarked against the Bloomberg Barclays U.S. Aggregate Index.

Mike Gitlin, head of fixed income at Capital Group, said the firm began designing its Multi-Sector Income Fund in September 2018 with the intention of meeting investor demand for a bond fund that could consistently generate income with lower volatility through an entire market cycle.

Capital Group had $1.7 trillion in equity and fixed-income assets under management as of March 31, 2020.

Transamerica Introduces Low-Cost Variable Annuity
Transamerica, a Baltimore-based subsidiary of Aegon, has released a low-cost variable annuity.

The Transamerica Advisory Annuity, offered and issued by Transamerica Life Insurance Company, offers policyholders a selection of 26 diverse investment options, including 18 portfolios managed by Vanguard and eight portfolios managed by Dimensional Fund Advisors. Policy owners can choose among investment portfolios, including seven index portfolios, that generally invest in stocks, bonds, money market instruments or a combination of the three.

There are added advantages to the new annuity, which is available at reduced annual fees, compared with Morningstar industry averages, according to Transamerica, as well as a choice of death benefits: the policy value, with no surrender charges, or a return of premium.

Based in the Netherlands, Aegon is one of the world’s largest providers of life insurance, pension solutions and asset management products, operating in more than 20 markets worldwide.

HiddenLevers Debuts Stress-Testing For Retirement Plans
HiddenLevers, a financial technology company based in Atlanta, has added new financial planning features to its platform that will help financial advisors respond to client concerns about the Covid-19 pandemic’s economic impact on their retirement investments.

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