Rarotonga is a very popular tourist destination with many resorts, hotels and motels. The chief town, Avarua, on the north coast, is the capital of the Cook Islands. The volcanic island of Rarotonga stands over 14,750 feet (4,500 meters) above the ocean floor. It is 32 km (20 miles) in circumference and has an area of 67.19 km (26 square miles). At a depth of 4,000 m (13,000 ft) the volcano is nearly 50 km (31 miles) in diameter. Te Manga, at 658 m (2,140 ft) above sea level, is the highest peak on the island. The island is surrounded by
Capital Group Companies clients and individual investors globally. In 1931, Jonathan Bell Lovelace founded the investment firm, Lovelace, Dennis & Renfrew, which would eventually become Capital Group. Lovelace had previously been a partner in the stock brokerage firm E.E. MacCrone, where he explored the concept of developing an open-end mutual fund. He eventually sold his stake in that company, just prior to the Wall Street Crash of 1929. In 1933, Lovelace’s firm took over management of The Investment Company of America, which he had launched at E.E. MacCrone in 1927. For the next 20 years, his firm enjoyed modest success. As mutual funds