The Capital Group Companies Inc. is a privately-held investment-management organization based in Los Angeles. It manages assets for institutional accounts, high-net-worth individuals, mutual funds and unit trusts. Its Capital Research and Management Co. manages 29 mutual funds and provides investment services for corporations, banks, trust companies and retirement plans. Capital Guardian Trust Co. provides global investment managed services to institutional clients. Capital International Inc. provides investment-management services to institutional clients.
Capital Research & Management's American Funds Growth Fund of America is among the world's biggest mutual funds. Even so, the money manager keeps a low profile. Its funds are sold through brokers and generally aren't advertised in the mainstream media. American Funds uses a "multiportfolio counselor" system, with different managers running their own portion of each fund autonomously.
Like other asset managers, the firm has suffered a decline in assets amid the downturn. It laid off about 500 people at the start of 2009.