American Funds Intermediate Bond Fund of America Class R-2 is a mutual fund specializing in U.S. dollar-denominated, intermediate-term fixed-income securities. Its primary function is to provide current income while adhering to standards for maturity and credit quality. The fund primarily invests in a mix of corporate bonds, U.S. government bonds and notes, mortgage-backed securities such as GNMA certificates, and asset-backed obligations, typically maintaining an average portfolio duration around four years. At least 80% of its assets are allocated to bonds and related debt instruments, primarily those rated A or higher, with a limited allocation to securities rated Baa/BBB. The fund emphasizes diversification across nearly a thousand individual holdings and generally excludes equity investments. It pays regular monthly dividends and is used by investors seeking a balance between income generation and managing interest rate risk within the intermediate bond sector, often serving as a core fixed-income holding for retirement plans and diversified portfolios. The fund is managed by Capital Group and features professional oversight with disciplined risk management and an emphasis on investment-grade quality and liquidity.
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