American Century Investments is a privately controlled and independent investment management firm.
 | |
 American Century Towers, Kansas City, Missouri | |
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | Kansas City, Missouri, U.S. (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 |
| AUM | US$187 billion (Q3 2022) |
Number of employees | 1,400 (Q3 2022) |
| Website | www |
Operations
editThe 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
editThe 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
edit- American Century Investment Management, Inc.
- American Century Investment Management (Asia Pacific) Limited
- American Century Investment Management (UK) Limited
- American Century Investment Services, Inc.
References
edit- ^ "James E. Stowers Jr., founder of American Century and the Stowers Institute, dies". kansas. Retrieved 2019-03-12.
- ^ "James E. Stowers Jr., Founder of American Century Investments, Stowers Institute For Medical Research, Dies at Age 90". PRWeb. Retrieved 2019-03-12.
- ^ "James Stowers, American Century Investments founder, dies at 90". www.investmentnews.com. Retrieved 2019-03-12.
- ^ "CIBC to Purchase 41 Percent Stake - American Century". Archived from the original on 2011-09-27. Retrieved 2011-07-25.
- ^ "CIBC to Buy JPMorgan American Century Stake for $848 Million - Businessweek". Archived from the original on 2011-07-19. Retrieved 2014-07-01.
- ^ "Nomura pays $1bn for American Century stake". www.ft.com. Archived from the original on 2019-09-18. Retrieved 2021-09-06.
- ^ Fukase, Atsuko (2015-12-21). "Nomura to Buy 41% Stake in U.S. Mutual-Fund Manager". WSJ.com. Retrieved 2016-07-15.
- ^ Milburn, Robert. "How American Century Investments Funds Science". blogs.barrons.com. Retrieved 2021-09-07.
- ^ Dornbrook, James (February 1, 2019). "American Century's minority owner takes a huge hit to earnings". www.bizjournals.com. Retrieved 2021-09-07.
- ^ "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.
- ^ "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.
- ^ "American Century Investments Extends Golf Event Sponsorship". www.sportsbusinessjournal.com. Retrieved 2021-09-07.
- ^ "First-ever fantasy golf competition coming to American Century Celebrity Golf Championship". Golf. Retrieved 2021-09-07.
- ^ 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.