Fundsters interested in joining up with American Funds
] may soon have an extra incentive to do so. On Thursday the SEC
revealed [see filing
] that it is about to approve an application from American Funds' parent, Capital Group
, to create special private equity funds for its own employees.
Capital Group's interest here isn't new. According to the SEC, the Los Angeles-based mutual fund firm first filed on October 1, 2003 and then amended that filing four more times, most recently on February 1 of this year. Now the SEC is giving those interested one way or the other an opportunity to speak up by March 7 if they want a hearing on the request, and "an order granting the application will be issued unless the Commission orders a hearing."
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