Capital Research & Management, part of the US Capital Group, is dividing its team of portfolio managers into two separate groups.

The move reflects a decision by Los Angeles-based Capital Research to shorten internal lines of communication, following a surge in funds under management to nearly $600bn (€490bn). It coincides with concern among consultants about Capital Group's ability to handle an increasing amount of money. Sellside analysts are being directed to new contacts at Capital Research, which could lead to opportunities for brokers to service one of its divisions, and a possible cut in commissions paid to those who work with the present joint operation.