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Tuesday, July 20, 2010

American Century Merges Two Units

Reported by Armie Margaret Lee

American Century Investments has merged its two investment advisory arms. Effective Friday last week, American Century Global Investment Management, Inc. (ACGIM) merged into American Century Investment Management, Inc. (ACIM), according to an SEC filing.

The move is designed to "increase corporate efficiency," American Century spokeswoman Laura Kouri told The MutualFundWire.

The change will not impact staffing levels and portfolios, she added.

Prior to last week's merger, international funds were managed by ACGIM employees out of the New York office while ACIM employees managed U.S. growth and value products out of Kansas City and fixed income offerings out of Mountain View, California. Now, all investment management staffers operate as ACIM employees. 

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