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Friday, June 29, 2007|
Rothenberg: No ETFs for American Funds
James Rothenberg, chairman of Capital Research and Management Company, made a rare public appearance at the Morningstar conference this week. Reuters reports that Rothenberg said that American Funds, a subsidiary of the CapGroup, will not be making a foray into the ETF market. Rothenberg told Morningstar attendees, "following the crowd is rarely the recipe for unique outcomes nor is it particularly courageous".
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