American Century Investments
today formally set sail on 10 newly loaded funds under the American Century Advisors flag. All of the funds were previously offered by the Kansas City firm on a no-load basis. The decision to add A, B and C class shares to the fund was made as part of a strategy at American Century to court financial advisors.
To date, the Kansas City-based fund firm has inked selling agreements with 110 intermediary firms and broker-dealers.
"We want to offer our expertise as a premier investment manager to investors however they choose to do business with us, whether directly or through a financial intermediary," said David Larrabee
, senior vice president of Third Party Sales. "Advisor Funds are a natural extension of our business. Although American Century is known for its no-load funds, people may not realize that our flagship funds, Growth and Select, originally were sold on a commission basis when they first launched nearly 45 years ago."
The funds adding the commissioned share classes include:
New Opportunities II
Large Company Value
California High-Yield Municipal
Prime Money Market
All of funds expect for the Prime Money Market will only be sold through financial intermediaries for all but investors who held shares prior to January 31, 2003.
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