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American Century Investments, Inc.
Company typePrivate
Industry Financial services
Founded Kansas City, Missouri, U.S. (1958; 66 years ago (1958))
Headquarters Kansas City, Missouri, U.S.
Key people
 Jonathan Thomas, CEO and president
James E. Stowers Jr., Founder
Products Mutual funds, institutional separate accounts, commingled trusts and sub-advisory accounts
AUMUS$187 billion (Q3 2022)
Number of employees
1,400 (Q3 2022)
Website www.americancentury.com

American Century Investments is a privately controlled and independent investment management firm.

Operations

The Building has approximately 1,400 employees and its headquarters are located at 4500 Main in Kansas City, Missouri, near the Country Club Plaza; the company also has offices in New York, London, Hong Kong, and Sydney.

History

The company was founded by James E. Stowers Jr. in 1958 as "Twentieth Century Mutual Funds", a family of no-load funds, in Kansas City, Missouri. [1] Stowers started the funds in 1958 with just $100,000 in assets from 24 shareholders. [2] He built his business concentrating on small investors. The company changed its name to American Century Investments in 1997. [3] American Century's headquarters are located at 4500 Main in Kansas City, Missouri, near the Country Club Plaza, and employs around 1,300 people.[ citation needed]

In 2011, JP Morgan Chase sold their 41% stake in ACI to Toronto based bank CIBC. [4] [5] CIBC resold its stake to Nomura Holdings in 2015 for around $1 billion as it could not gain full control of ACI. [6] The stake gave Nomura 10.1% of the voting rights. [7] The Stowers Institute for Medical Research holds the controlling majority stake in the company. [8] Between 2000 and 2019, the institute received over $1.1 billion in dividends from American Century. [9]

The company paid a $1.5 million settlement to its current and former employees after the United States Department of Justice found that it broke anti-trust laws by conspiring with another company to not compete for employees. [10] In August 2021, the company announced a vaccine mandate, requiring its employees to get the COVID-19 vaccine. [11]

Since 1999, American Century has sponsored the American Century Championship, [12] an annual celebrity golf tournament held at Edgewood Tahoe Resort in July. [13] A fantasy golf contest was added to the championship in 2021. [14]

Subsidiary

  • American Century Investment Management, Inc.
  • American Century Investment Management (Asia Pacific) Limited
  • American Century Investment Management (UK) Limited
  • American Century Investment Services, Inc.

References

  1. ^ "James E. Stowers Jr., founder of American Century and the Stowers Institute, dies". kansas. Retrieved 2019-03-12.
  2. ^ "James E. Stowers Jr., Founder of American Century Investments, Stowers Institute For Medical Research, Dies at Age 90". PRWeb. Retrieved 2019-03-12.
  3. ^ "James Stowers, American Century Investments founder, dies at 90". www.investmentnews.com. Retrieved 2019-03-12.
  4. ^ "CIBC to Purchase 41 Percent Stake - American Century". Archived from the original on 2011-09-27. Retrieved 2011-07-25.
  5. ^ "CIBC to Buy JPMorgan American Century Stake for $848 Million - Businessweek". Archived from the original on 2011-07-19. Retrieved 2014-07-01.
  6. ^ "Nomura pays $1bn for American Century stake". www.ft.com. Archived from the original on 2019-09-18. Retrieved 2021-09-06.
  7. ^ Fukase, Atsuko (2015-12-21). "Nomura to Buy 41% Stake in U.S. Mutual-Fund Manager". WSJ.com. Retrieved 2016-07-15.
  8. ^ Milburn, Robert. "How American Century Investments Funds Science". blogs.barrons.com. Retrieved 2021-09-07.
  9. ^ Dornbrook, James (February 1, 2019). "American Century's minority owner takes a huge hit to earnings". www.bizjournals.com. Retrieved 2021-09-07.
  10. ^ "American Century Settles Federal Antitrust Charges For $1.5 Million". KCUR 89.3 - NPR in Kansas City. Local news, entertainment and podcasts. 2021-07-01. Retrieved 2021-09-06.
  11. ^ "American Century joins ranks of KC businesses requiring vaccine". www.bizjournals.com. August 20, 2021. Archived from the original on 2021-08-20. Retrieved 2021-09-06.
  12. ^ "American Century Investments Extends Golf Event Sponsorship". www.sportsbusinessjournal.com. Retrieved 2021-09-07.
  13. ^ "First-ever fantasy golf competition coming to American Century Celebrity Golf Championship". Golf. Retrieved 2021-09-07.
  14. ^ Vaupel, Andrew (June 29, 2021). "American Century introduces fantasy golf contest. Will you pick Mahomes or another celebrity/sports legend?". www.bizjournals.com. Archived from the original on 2021-07-02. Retrieved 2021-09-07.

External links

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