Secretive Capital Group Plots a Flashy Pivot to Private Markets
Capital Group succeeded in keeping a low profile for almost a century, not even posting a sign outside its sprawling Los Angeles headquarters to call attention to its presence, as...
By Bloomberg Markets · Bloomberg Markets
Capital Group succeeded in keeping a low profile for almost a century, not even posting a sign outside its sprawling Los Angeles headquarters to call attention to its presence, as it offered millions of investors an array of mutual funds branded with a different humdrum name. But over much of the past decade, the firm looked on while rivals reinvented themselves and the rise of passive index investing and exchange-traded funds eroded its core business. Now, insiders say the world’s biggest active-only money manager can’t afford to watch from the sidelines any longer. Bloomberg News Financial Regulation Reporter Silla Brush joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)