I'm a long time AF holder and student of funds in general--although not a professional advisor...still, after having looked at many fund options over the years, I would consider staying with AF (can you buy non-front load shares?) even with a front load.

I know of no empirical evidence to suggest bloat is a problem for AF's although intuitively it makes sense that bloat is a problem. But their team approach coupled with global funds makes me less worried about bloat. The advantage with AF is you don't rely on a star system to manage the funds, they are highly ethical and really care about shareholders, and they have incredible global research -- people located in countries around the world.

 Having said that: I think your choice is relatively simple given your age (young-with many years). How about:

75% cwgix (capital world income/growth)

25% newfx (new world fund)

 OR

100% cwgix

CWGIX is a superb long term holding giving you a conservatively managed growth fund tapping into every country that contains growth oriented stocks with a dividend tilt.