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Rating:American Century  Names CIO for US Growth Equity Not Rated 3.2 Email Routing List Email & Route  Print Print
Tuesday, June 19, 2007

American Century Names CIO for US Growth Equity

News summary by MFWire's editors

Stephen J. Lurito has been named chief investment officer for U.S. Growth Equity at American Century Investments. He joins the Kansas City fund firm on July 9. Lurito, 44, is currently chief investment officer and partner at MUUS Asset Management LLC.

American Century Investments, a leading investment management firm, today announced it has named Stephen J. Lurito as chief investment officer (CIO) for U.S. Growth Equity. Lurito, 44, is currently chief investment officer and partner at MUUS Asset Management LLC, although the majority of his career was spent as a growth manager at Warburg Pincus Asset Management. He joins American Century on July 9.

Lurito is an ideal fit for the U.S. Growth Equity CIO job, according to Enrique Chang, American Century chief investment officer. “Steve has significant experience as a growth manager and a strong background in institutional asset management,” said Chang. “He’s a proven leader who understands how to manage people who manage money.”

As CIO for U.S. Growth Equity, Lurito will be responsible for 40 investment professionals who manage 28 strategies representing $30 billion, or nearly one-third of American Century’s assets under management.

“I’m delighted to be joining American Century and I’m eager to work together with our growth equity teams to deliver the best possible returns for clients and investors,” said Lurito. “I see great future opportunity for the firm and the impact our growth teams can make on our clients and investors’ long-term success.”

Lurito joins American Century from MUUS Asset Management LLC, where he managed a $70 million hedge fund of funds and oversaw investment activity for $57 million in private equity funds. Prior to that, he served as managing director and senior portfolio manager at ForstmannLeff, where he helped launch their small capitalization equity management business. Previously, he was president of Arlington Capital, where he served as a hedge fund of fund consultant and managed money for high-net-worth clients.

Lurito spent the majority of his career in leadership positions with Warburg Pincus Asset Management (acquired by Credit Suisse Asset Management in 1999) in New York. From 1987 – 2001, he served in various investment management leadership roles there, including co-chief investment officer, overseeing $23 billion in assets under management and 21 portfolio managers. He began his career as a U.S. equities research analyst for Sanford C. Bernstein & Co., Inc. He graduated magna cum laude and Phi Beta Kappa with a bachelor’s degree from the University of Virginia and received his M.B.A. from the University of Pennsylvania, Wharton School of Business.

Lurito is the latest in a series of senior leadership hires and promotions at American Century. Earlier this month, the company announced Barry Fink joined the firm as chief operating officer. Last month, American Century announced the appointment of Mark On as chief investment officer for International Equity. In March, Jonathan Thomas was promoted to president and CEO, and in January, Enrique Chang became chief investment officer.

American Century Investments is a leading investment manager with more than 45 years of experience helping investors achieve their financial goals. Serving investment professionals, institutions, corporations and individual investors, American Century offers a broad array of products across a variety of investment disciplines. With offices in New York, Mountain View, Calif., and Kansas City, Mo., the company manages approximately $105 billion in assets through mutual funds, institutional separate accounts, commingled trusts and subadvisory accounts. James E. Stowers Jr. founded the company in 1958. For the past eight years, American Century, which employs 1,800 people, has been selected as one of FORTUNE Magazine's 100 Best Companies to Work for in America. For more information about the company, visit www.americancentury.com.

Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. Contact 1-800-345-2021 for a prospectus containing this and other information. Read it carefully. 

Edited by: Erin Kello

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