Although it's the world's top-selling fund manager on the retail side, Los Angeles-based
But Capital Group International, which manages its institutional business, suffered a drop in assets under management from $317 billion in 2004 to $305 billion in 2005.
Chuck Freadfoff, a company spokesman, said that two years ago the firm took action to fix its international performance. Last year, he said, returns were 20%, easily above the world market return of 14%.
"There were a couple of years from 2002, where our results in international equities were not what we would have liked," he said. "We encourage our clients to look at five-year and 10-year performance."