Dec. 4 at 7:21 PM
Capital Group, world’s biggest active-only money manager w/
$3.3T AUM, is embarking on a splashy marketing campaign, expanding its lineup of ETFs & ramping up a private-markets partnership w/
$KKR it hopes will attract more retail money.
It includes Capital Group’s first target-date fund for retirement plans that will contain public & private assets, as well as a similar model portfolio for retail investors. The firm will also manage some money for KKR’s Global Atlantic insurance arm
This amount to one of Capital Group’s biggest strategic shifts since its 1931 founding - they are worried about getting left behind as private-markets rivals such as
$APO $BX &
$BLK ramp up their own initiatives to attract more retail investors
For each of the past 10 years, clients pulled more money out of the firm’s equity mutual funds & related products than they put in
CEO: “Every single client is shrinking their list of preferred partners”
“It would take us 50 years to create KKR’s 50-year track record"