American Funds News
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Primecap Odyssey Aggressive Growth Fund, run by a firm that’s best known as a money manager for Vanguard Group Inc., beat peers over the past five years with a heavy dose of health-care stocks, many held for years.
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Gibraltar’s Financial Services Minister Gilbert Licudi said the U.K. territory on the Iberian peninsula is a better place for Latin American funds to tap European investors than Dublin or Luxembourg.
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Growth Fund of America has lost its status as the largest U.S. equity mutual fund, a position it held for six years, as investors are turning away from Los Angeles-based parent Capital Group Cos. and its tradition of picking stocks.
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Capital Group Cos., owner of American Funds, expanded its investment options and reorganized its equity teams in response to feedback from financial advisers.
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Virtus Investment Partners Inc. and Artio Global Investors Inc. set out on their own in 2009 within nine months of one another. The paths of the two money managers couldn’t have been more different.
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Equity funds lured six times the money that went into bonds in the week ended Jan. 30, according to a Citigroup Inc. report that cited EPFR Global data.
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Shortly after she took over as chief executive officer of Harvard Management Co. on July 1, 2008, Jane Mendillo gathered the university endowment’s 200- member staff for a town-hall-style meeting at the Federal Reserve Bank Building in downtown Boston, across the Charles River from Harvard University.
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Gordon Crawford, the fund manager whose views helped shape media industry mergers and acquisitions, will retire at year’s end after more than four decades at Los Angeles-based Capital Group Cos.
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Jane Mendillo -- who went to Yale -- stepped in to lead the university’s endowment just as markets crashed and it lost $10.1 billion. It may be years before she can clean up the mess.
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JPMorgan Chase & Co. is proving that banks aren’t destined to be also-rans in the $12 trillion mutual fund business.
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