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Rating:American Century Adds Commodities to its TIPS Not Rated 4.0 Email Routing List Email & Route  Print Print
Tuesday, April 13, 2010

American Century Adds Commodities to its TIPS

Reported by Stephanie Bernhard

American Century will add a new no-load fund to its lineup on April 30, according to a company press release. The American Century Strategic Inflation Opportunities Fund [See SEC filing] is designed to address concerns about the potential for future inflation, as well as increased demand for non-correlated asset classes. The fund will invest in U.S. inflation-indexed securities, commodity-related investments, and non-U.S. dollar investments.

The five portfolio managers include both fixed income and quantitative equity investors. Bill Martin, head of the fund's Mountain View, California-based commodities team, said "it's not that we're calling for inflation right around the corner, but given current conditions, we think we could be seeing higher than usual inflation." Because of the huge government deficit, Martin added, politicians would either have to cut services and risk not being re-elected, or maintain services by creating inflation -- and Martin is betting on inflation. Martin was responsible for designing the fund's asset structure.

The fund's fixed-income securities team, led by Robert Gahagan and Brian Howell, is also in Mountain View. The non-U.S. currency team is led by John Lovito and Federico Garcia Zamora, and is located in New York. The multi-team strategy differentiates the new fund from American Century's other TIPS funds, the most recent of which was launched in 2005, as reported by The MFWire. American Century has been known as a leader in the TIPS space.

American Century Investment Services will serve as the fund's distributor. American Century Services is the fund's transfer agent and administrator, and J.P. Morgan Investor Services is serving as a sub-administrator. JPMorgan Chase Bank is the fund's custodian. PricewaterhouseCoopers is the independent registered public accounting firm for the fund. 

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