Capital

CHARLES D. ELLIS is a recognized expert on investment management. For thirty years, he was managing partner of Greenwich Associates, the leading worldwide strategy consultant to the investment industry, where he developed close working relationships with senior executives at most of the major investment firms in the United States, Canada, England, Japan, Germany, and Australia. His other activities have included teaching the investment management course at both the Yale School of Management and Harvard Business School; and chairing the CFA Institute. He currently serves as a Director of Vanguard; advising some of the world's largest Investing institutions; and chairing the investment committees at the Whitehead Institute and Yale University. Among his ten prior books is Winning the Loser's Game. He is one of only ten individuals honored for lifetime contributions to the investment management profession.

"This is a beautifully detailed book on how investment boutique was created." (Professional Investor, Autumn 2010)"... an excellent boo... valuable reading for any professional...." (Professional Investor, September 2004)"Mr Ellis has an ear for anecdote and figures that speak for themselves." (Financial Times, 2 May 2004)"...[Wiley] will publish an astonishing account of how Capital has built one of the best track records...." (The Times, 7 February 2004)

• Foreword xiIntroduction 1Chapter 1 The Founding 9Chapter 2 Staying Alive 25Chapter 3 The Multiple-Counselor System 35Chapter 4 Organizing the Core 49Chapter 5 Mutual Fund Distribution 61Chapter 6 Crossing the Rubicon: Capital Group 91Chapter 7 Shareholder Services 101Chapter 8 Acquisitions and Start-Ups 123Chapter 9 Capital Guardian Trust Company 139Chapter 10 Global Investing 165Chapter 11 Emerging Markets 185Chapter 12 Managing People 201Chapter 13 Management 223Chapter 14 Compensation 249Chapter 15 Investing 265Afterword 291Appendix I Summary Statement of Corporate Objectives and Goals 301Appendix II Outline of Basic Managerial Beliefs 307Appendix III Growth of the Capital Group Companies, Inc 309Index 311