nefcorr.htm
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New
Economy Fund
333 South Hope
Street
Los Angeles,
California 90071
Phone (213)
486-9200
Chad
L. Norton
Secretary
January 26,
2010
Ms. Laura Hatch,
Staff Accountant
U.S. Securities and
Exchange Commission
100 F Street,
NE
Washington, DC
20549
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Re:
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New Economy
Fund
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File Nos.
811-03735 and 002-83848
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Dear Ms.
Hatch:
This letter is in
response to oral comments we received from you on January 5, 2010 to the fund’s
Post-Effective Amendment No. 38 to the Registration Statement under the
Securities Act of 1933 and Amendment No. 35 to the Registration Statement under
the Investment Company Act of 1940. We appreciate your prompt
response to the filing.
Our responses to
your comments are set forth below. We will incorporate any changes to the fund’s
Registration Statement in a filing pursuant to Rule 485(b) to be automatically
effective on February 1, 2010.
1. Principal
investment strategies – page 3 of the fund’s prospectus
Comment: If the
fund may invest in developing markets as a principal investment strategy, please
describe this in the principal investment strategies section.
Response: We will update the
principal investment strategies section of the prospectus to include language
stating that the fund may invest in the securities of issuers in developing
countries.
The change
described above will also be made to the fund’s retirement plan prospectus, to
the extent the change applies to that document. Thank you for your consideration
of our response to your comments.
If
you have any questions please do not hesitate to contact me at (213) 486-9320 or
Tim McHale at (213) 615-0404.
Sincerely,
/s/ Chad L.
Norton
Chad L.
Norton
Secretary