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Capital Group was established in 1931 in Los Angeles, California, and now has 31 offices around the globe. For over 90 years we've provided carefully researched investment solutions and services to financial professionals. U.S. products are distributed by American Funds Distributors, Inc. and are only available to U.S. residents. This content is intended to highlight issues and be of a general nature. It should not be considered advice, an endorsement or a recommendation. Products mentioned are not an offer of the product. Past results are not a guarantee of future results. Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates. This content is published by American Funds Distributors, Inc. and copyrighted to Capital Group and affiliates, 2024, all rights reserved. For full disclosure: https://www.capitalgroup.com/global-disclosures