American Funds to launch its Global High-Income Opportunities Fund

By Toni Weeks

San Diego, Sept. 17 - American Funds announced it will launch its new American Funds Global High-Income Opportunities Fund in December, according to an N-1A filing with the Securities and Exchange Commission.

The fund will seek to provide over the long-term a high level of total return largely comprised of current income. It will invest in higher-yielding and generally lower quality debt securities rated Ba1 or below or BB+ or below of global issuers as well as debt securities issued by developing country and emerging market issuers. The securities may be denominated in various currencies.

The portfolio managers have not yet been selected.

The fund will launch with the following share classes: A, B, C, F-1, F-2, 529-A, 529-B, 529-C, 529-E, 529-F-1, R-1, R-2, R-3, R-4, R-5 and R-6.

Shareholder fees will consist of a 3.75% sales charge for class A and 529-A shares as well as a maximum deferred sales charge of 1% for class A, 529-A, C and 529-C shares and 5% for class B and 529-B shares. Management fees have not yet been set.

Los Angeles-based Capital Research and Management Co. will serve as the fund's investment provider.

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