Clients put Capital Guardian on watch

Fulman, Ricki
September 2003
Pensions & Investments;9/1/2003, Vol. 31 Issue 18, p1
Capital Guardian Trust Co., one of the most respected money management firms in the world, is suffering from sub-par returns in some asset classes, performance that has prompted several clients to add Capital Guardian Trust Co. to their watch lists. The firm had $115 billion under management as of June 30, 2003, of which more than 90 percent was institutional tax exempt. Most of the performance problems have occurred because of the firm's growth bias at a time when value was doing better, industry experts say. Performance of its flagship commingled fund, the $13 billion Large Cap Non U.S. Equities Fund, has been particularly disappointing, down 5.8 percent for the year ended June 30. Among the pension funds that put Capital Guardian Trust Co.'s international large-cap equity fund on their watch lists for performance is the $27 billion Teachers' Retirement System of Illinois, which has $468 million in the fund.


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