Kansas City, MO (PRWEB) September 01, 2011
American Century Investments announced it has closed its nearly $14 billion American Century Growth strategy -- comprised of American Century Growth, American Century Focused Growth and VP Growth -- effective Aug. 31.
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 Growth’s ability to stay true to its time-tested investment strategy,” Chang said. “We also wanted to sustain its ability to meet its goal of generating strong long-term performance for our current clients and investors. The Growth strategy represents a disciplined investment strategy founded upon well researched, proven, effective components.”
American Century Growth’s management team targets large companies that exhibit improving fundamental business characteristics and relative stock price strength compared with the broader market. Clients who already held accounts in the strategy prior to 3 p.m. CST Aug. 31 may continue to make subsequent investments and reinvest dividends. Clients who did not hold accounts in the Growth strategy prior to its closing but are still interested in investing in a large cap growth offering may consider American Century Select or American Century Ultra®.
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.
People should consider the fund’s investment objectives, risks, and charges expenses carefully before they 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.
Because this fund is non-diversified, a price change in any one security may have a greater impact than would be the case if the fund were diversified. In addition, the fund's non-diversification may result in high portfolio turnover that could result in increased commission costs, affecting the fund's performance, as well as capital gains tax liabilities to the shareholder and potentially high price fluctuations.
The VP Funds are managed by the same management team using the same objectives, approach, and philosophy as the retail fund. The VP portfolios are managed in a manner that under normal circumstances should produce similar performance. However, it is important to note that there are additional fees and charges assessed with investments in variable insurance products, those charges are disclosed in the separate account prospectus. The fees and charges will reduce returns when compared to that of the retail fund. There is no guarantee that the management team will achieve the same or similar performance in the future.