“We want to offer our clients multiple pricing options as they determine the best way to pay for investment management and recordkeeping services associated with employer-sponsored retirement plans,” said Chief Client Officer – Americas Peter Cieszko.
Kansas City, MO (PRWEB) July 31, 2013
American Century Investments today announced it has completed the addition of a new retirement plan share class to many of its most popular mutual funds, as well as 10 new target date funds. A total of 41 fund strategies now have the “R6” share class, the lowest total expense ratio of any share class offered by the firm.
The move was specifically designed to underscore American Century’s commitment to clients and prospects in the defined contribution plan marketplace, according to Chief Client Officer – Americas Peter Cieszko.
“We want to offer our clients multiple pricing options as they determine the best way to pay for investment management and recordkeeping services associated with employer-sponsored retirement plans,” Cieszko said. “It’s part of our overall goal to provide advisors and plan sponsors with more flexibility and tools to facilitate better plan design and execution.”
Rick Luchinsky, senior vice president and head of the firm’s defined contribution investment-only (DCIO) business said American Century also believes the creation of a new low-cost share class gives plan sponsors the ability to simplify communication to plan participants. “It allows defined contribution plan providers to more easily distinguish fees for investment management services from recordkeeping and other plan-level administrative services.”
The R6 class shares are generally available only through employer-sponsored retirement plans where a financial intermediary provides retirement recordkeeping services to plan participants.
The new R6 shares have been added to many of American Century’s most popular funds, as well as the new target date funds.
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 and Jonathan S. Thomas is president and chief executive 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. For more information, visit http://www.americancentury.com.
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