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EXECUTIVE SUMMARY

THELIST L.A. MONEY MANAGEMENT FIRMSRanked by assets managed as of Dec. 31NEXT WEEKThe Largest Minority-OwnedBusinesses in L.A. County

THE25 largest money managementfirms in Los Angeles County had$1.79 billion in assets as of Dec.

31. That was down $119 billion, or 6

percent, from 2010.The biggest increase was at L.A.-

based Doubleline Capital LP, which had$24 billion in assets as of Dec. 31, upfrom $5 billion in 2010. The companywas founded by Jeffrey Gundlach afterthe bitter separation from his formerfirm, TCW Group Inc.

Other gainers include Santa Monica-based Wilshire Associates Inc., whichreported that assets increased by 12percent to $80 billion, and L.A.-basedPayden & Rygel, up 13 percent to $62billion.

The biggest drop on the list was bytop firm Capital Research and Manage-ment Co., which shed $112 billion inassets locally last year. Its sister firmCapital Guardian Trust Co. reported$42 billion in assets, down by $15 bil-lion, or 26 percent, from 2010.

In general, firms listed invest in a di-verse group of assets such as real estate,stocks and bonds. Two firms listed,CBRE Global Investors LLC and ColonyCapital, invest exclusively in real estate.

Overall, the 25 largest money man-agement firms employ more than 280portfolio managers and 300 researchersin their local offices.

David Nusbaum

WITHassetsof $976billion,

Capital Research

and ManagementCo. tops the list ofthe largest moneymanagement firmsin Los AngelesCounty. The down-town firm is part ofCapital Group Cos.,which has more than$1.1 trillion in totalassets.

The companyoperates the Ameri-can Funds family ofmutual funds. In addition to its 33 different mutual funds in operation thatmake investments worldwide, the company added eight funds that openedfor investments May 18 in its American Funds Portfolio Series. The eightnew funds invest in different groups of funds to provide mixes of stocksand bonds. The funds vary in their approach some offering riskierinvestments in growth funds and others with more conservative strategies.

The company is also offering 10 Target Date Retirement Funds thatreconfigure investments for risk mitigation as the fund approaches thetarget date. Those are available as retirement account investments and aretargeted at college students.

The new funds represent a change for the 81-year-old firm, which isdealing with increased competition and an outflow of assets. The com-pany reported that its assets peaked at nearly $1.6 billion in 2006.

Capital Group Cos. is headquartered in downtown Los Angeles andhas 23 offices worldwide. It opened its most recent office in Sydney, Aus-tralia, last year. The company has more than 7,000 employees worldwide.

David Nusbaum

Money Manager: Capital Group

THE PACESETTERTHE TRENDS

Ups and DownsNet asssets of U.S. mutual fund shareholder accounts.

Source: Investment Company Institute

0

2

4

6

8

10

$12

2003 2004 2005 2006 2007 2008 2009 2010 2011

Account HoldersThe number of U.S. mutual fund shareholder accounts.

200

220

240

260

280

300

2003 2004 2005 2006 2007 2008 2009 2010 2011

(in trillions)

(in millions)

14 LOS ANGELES BUSINESS JOURNAL MAY 28, 2012

Please see Page 16

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16 LOS ANGELES BUSINESS JOURNAL THE LIST MAY 28, 2012

Continued from page 14

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