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Jon B. Lovelace dies at 84; head of American Funds
Jon B. Lovelace dies at 84; head of American Funds

Jon B. Lovelace, who led the Los Angeles-based American Funds mutual fund company as it became one of the country's largest money management firms, has died. He was 84. His family said Lovelace died of natural causes at his home in Santa Barbara on Wednesday. Lovelace is credited with some of the key innovations that helped set the stage for American Funds' explosive growth from the 1980s through the mid-2000s, as it became synonymous with successful buy-and-hold stock investing. The funds' parent firm, Capital Group Cos., now manages about $1.2 trillion in all, most of that in 33 mutual funds owned by tens of millions of Americans. Lovelace also nurtured an egalitarian...

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