American Funds is a family of 33 mutual funds managed by Capital Research and Management, part of the Capital Group Companies. Capital Research and Management serves as the investment advisor to the 33 American Funds. The company does not advertise and shuns publicity, preferring to rely on brokers' recommendations to their clients. With over $1 trillion in assets under management (as of November 2010), American Funds is the third largest behind Fidelity and The Vanguard Group.
In February 2007, a California appeals court said the attorney general could sue American Funds for fraud stemming from allegations that the fund company did not inform investors that it was paying kickbacks to brokerage firms to entice brokers to recommend the funds to their clients. A lower court had ruled that the state lacked jurisdiction to file suit. The California Attorney General later dropped the suit in February 2008.
Other articles related to "funds, fund":
... This is a list of mutual funds in the United States ordered by assets under management as of December 31, 2011 ... Rank Ticker Fund Name Assets (millions of USD) 1 PTTRX PIMCO Total Return Instl $144,428.6 2 SPY SPDR S P 500 (ETF) $95,397.4 3 GLD SPDR Gold Trust (ETF) $63,484.3 ...
Famous quotes containing the word american:
“Americans living in Latin American countries are often more snobbish than the Latins themselves. The typical American has quite a bit of money by Latin American standards, and he rarely sees a countryman who doesnt. An American businessman who would think nothing of being seen in a sport shirt on the streets of his home town will be shocked and offended at a suggestion that he appear in Rio de Janeiro, for instance, in anything but a coat and tie.”
—Hunter S. Thompson (b. 1939)