is undergoing a major rebranding in an attempt to build back it's business.
The Los Angeles-based mutual fund giant, which includes American Funds
], may have $1.1 trillion in AUM, but that is down $400 billion in the past six years, according to Pensions & Investments
The news was also covered in Bloomberg
, where it was reported that the firm will begin to offer separately managed accounts to customers.
Part of the rebrand will be to drop the name of the firm's institutional arm, Capital Guardian Trust. According to P&I
, Capital Group and American Funds will be the only brands used going forward.
Check out the P&I
, and the Bloomberg
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