“We wanted to preserve Equity Income’s ability to stay true to its time-tested investment strategy,” Enrique Chang, chief investment officer of American Century Investments said.
Kansas City, MO (PRWEB) November 30, 2011
American Century Investments announced today it has closed its nearly $10 billion U.S. Value Yield strategy, which includes the popular American Century Equity Income fund (TWEIX).
The decision to close the strategy was made in the best interest of clients, according to Enrique Chang, chief investment officer of American Century Investments. “We wanted to preserve Equity Income’s ability to stay true to its time-tested investment strategy,” Chang said.
American Century Equity Income is managed by Chief Investment Officer Phil Davidson and Senior Portfolio Managers Kevin Toney and Michael Liss. Davidson has managed the fund since its inception in August 1994. Along with American Century Equity Income portfolio, the team also manages American Century’s Value, Mid Cap Value, and Market Neutral Value strategies.
Clients who already held accounts in the strategy prior to 3 p.m. CT. Nov. 30 may continue to make subsequent investments and reinvest dividends.
About American Century Investments
American Century Investments is a leading privately-held investment management firm, committed to delivering superior investment performance and building long-term client relationships since 1958. Serving investment professionals, institutions, corporations and individual investors, American Century Investments offers a variety of actively managed investment disciplines through an array of products including mutual funds, institutional separate accounts, commingled trusts and sub-advisory accounts. The company’s 1,300 employees serve clients from offices in New York; London; Hong Kong; Mountain View, Calif. and Kansas City, Mo. James E. Stowers Jr. is founder of the company. Jonathan S. Thomas is president and chief executive officer and Enrique Chang is chief investment officer. Through its ownership structure, more than 40 percent of American Century Investments’ profits support research to help find cures for genetically-based diseases including cancer, diabetes and dementia.
American Century Investment Services, Inc., Distributor.
You should consider the fund’s investment objectives, risks, and charges expenses carefully before you invest. The fund’s prospectus or summary prospectus, which can be obtained by visiting americancentury.com contains this and other information about the fund, and should be read carefully before investing.
Investment return and principal value of security investments will fluctuate. The value at the time of redemption may be more or less than the original cost. Past performance is no guarantee of future results.