SINGAPORE (June 19): The Covid-19 outbreak has rattled financial markets and dampened economic sentiment. More companies around the world have had to settle for lower revenue and reduced profits. As the global economy undergoes an “economic rewiring”, Capital Group’s investment director Andy Budden believes the New Economy Fund is set to resonate with Asian financial markets now more than ever before.

Launched by Capital Group on Feb 10 in Singapore and Hong Kong, the fund is a global equity strategy that pursues growth by investing in companies that can benefit from innovation, exploit new technologies or provide products and services that meet the demands of an evolving global economy. The fund is currently distributed by DBS.

With some US$2 trillion ($2.8 trillion) worth of assets under management, Capital Group is now shifting its focus to companies that are at the “cutting edge of the new economy” — including ones that are actively innovating and helping to fuel a “constantly-changing economy”, Budden tells The Edge Singapore in an interview.

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