Noted investor Hilda Applbaum's financial strategy was honed at an early age — and decades later, has resulted in industry accolades. The portfolio manager at Capital Group runs the The Income Fund of America and was named one of the top female fund managers of 2024 by Morningstar earlier this year. She was also nominated for outstanding portfolio manager in 2022 by Morningstar.
Applbaum grew up as a first generation American to Polish parents who were Holocaust survivors. By 17, she had lost both parents, first her mother when she was 11 years old followed by her father six years later. She started working at the age of 14 and put herself through college.
"They really were role models of hard work, perseverance, savings, and wanting stability and a nest egg," she said in an interview with CNBC. "So, low volatility, income producing, risk averse kind of became ingrained in who I was as a person." Applbaum, who Morningstar calls a "seasoned and skilled asset allocator," joined Capital Group 29 years ago after a stint at the California Public Employees' Retirement System.
She said she "grew up" at Capital Group — first as an analyst, then a research portfolio coordinator. In addition to now being a portfolio manager, she is the principal investment officer of The Income Fund of America. The fund currently has a 3.
77% 30-day SEC yield and a 0.37% expense ratio. RIDFX 1Y mountain Income Fund of America, institutional shares "We pride ourselves on producing income consistently.