When Jonathan Bell Lovelace founded Capital Group, he prioritized honesty and integrity. His approach to researching and investing in valuable companies helped define the firm’s early years.
His plan paid off in 1933 when he assumed the management of The Investment Company of America®. It's success helped lay Capital Group's foundation for American Funds, one of the largest mutual fund families in the United States.*
Photo: Jonathan Bell Lovelace, 1968
*By AUM for open-end U.S. funds. Data from Morningstar as of December 31, 2025.
In the 1930s, Jonathan Bell Lovelace helped Roy and Walt Disney finance “Snow White and the Seven Dwarfs” and “Fantasia.”
Lovelace provided testimony during the U.S. government hearings that helped lead to the passage of the Investment Company Act of 1940.
In the late 1940s, we made a conscious decision to market through the broker-dealer community rather than sell the funds directly to the public.
Early on, Lovelace recognized the benefits of collaborative research, diverse perspectives and a long-term view. His thoughtful process grew into The Capital System.
This distinct investment approach has given us the flexibility to evolve with markets and client needs, delivering new strategies in the investment vehicles clients seek.
Over the years, The Capital System has proven to be one of our greatest competitive advantages.
Photo: Investment Group meeting, 1973
18 associates
1937
75 associates
1962
1,529 associates
1990
9,300+ associates
2026
In the early 1960s, we noticed a trend of global economic integration and sought to understand worldwide activities.
In 1962, our first European office opened in Geneva, Switzerland. Although few American investment companies had foreign investments at the time, one of our largest funds invested over 10% of its portfolio internationally.
We began managing non-U.S. assets for U.S.-based institutional clients in 1978.
In 1979, we opened a London office amidst a downturn in the U.K. economy. Though perceived as a risk, our long-term perspective enabled us to view it as an opportunity.
In 1982, we established our first office in Asia in Tokyo, then expanded to Hong Kong and Singapore. These additions provided us with enhanced access to Asian industries.
In the late 1960s, Capital Group became a global investing trailblazer.
When we found scarce statistical information and investment data for non-U.S. markets, we created what would become the global standard for measuring international investment results: the Europe, Australasia, Far East (EAFE) Index.
This eventually morphed into the Morgan Stanley Capital International (MSCI) indices, which are still used to this day.*
Photo: Capital Group associates in Hong Kong, 1985
*Commercial rights to the publication and indexes were sold to Morgan Stanley in 1986.
In 1953, we invested in Royal Dutch Petroleum and later were early institutional investors in Japanese stocks.
In 1969, Capital Group introduced our first European fund. In preparation, our research analyst took a crash course in Italian.
In 1970, we founded a Luxembourg-based fund, followed by the New Perspective strategy in 1973 in the U.S.
In 1968, we launched our institutional business, beginning the expansion of our offerings, and later continued to grow by establishing ourselves as providers of fixed income and 529 college savings plans.
We’re constantly evolving to better serve our clients, expanding our capabilities and offerings to meet changing needs while providing insights and perspectives informed by decades of investment experience.
Our first fixed income fund debuted in 1974. In 50 years, we grew our fixed income AUM to more than US $699B.‡
In 2002, we debuted our 529 savings plan, which has grown into the largest 529 savings plan in the U.S.§
In 2007, we launched our first target date series, which has helped millions pursue their retirement goals.
‡As of June 01, 2026. Assets managed by Capital Fixed Income Investors.
§Largest by assets, according to the 529 Quarterly Data Update, Fourth Quarter 2025 from ISS Market Intelligence. As of December 31, 2025, CollegeAmerica’s assets under management (AUM) was $109.0 billion.
As Capital Group approaches its 100th anniversary in 2031, our long-term strategy remains firmly rooted in our mission to improve people’s lives through successful investing. For more than nine decades, we have continually evolved alongside our clients while staying true to the principles that define us.
As we look ahead, we remain focused on fulfilling that mission through our four long-term strategic priorities.
We will continue to innovate our research, portfolio construction and risk management processes.
We will continue to put our investors first and work to be the business partner of choice by helping our clients achieve their business priorities.
We will deliver world-class service and maintain the financial strength to continually reinvest in our business, clients and associates.
We will invest to continually improve the experience of working at Capital Group.