American Century Investments

American Century Investments is a privately controlled United States investment management firm headquartered in Kansas City, Missouri. The company traces its origins to 1958, when James E. Stowers Jr. established Twentieth Century Mutual Funds with approximately $100,000 in assets and 24 shareholders. From the beginning, the business emphasized serving individual investors through no-load mutual funds and professional investment management rather than operating as a traditional bank or brokerage. The firm expanded from its original mutual-fund base into a broader asset-management platform. Its activities include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates, and other investment solutions spanning equities, fixed income, asset allocation, and quantitative strategies. The company operates through offices in Kansas City, New York, London, Hong Kong, and Sydney, giving it a presence across North American, European, and Asia-Pacific markets. The company adopted the American Century Investments name in 1997. Its ownership structure has remained distinctive within the asset-management industry. The Stowers Institute for Medical Research holds the controlling majority interest, linking the investment manager's long-term economics to medical research and philanthropy. Minority ownership interests have also been held by large financial institutions. JPMorgan Chase sold a 41% interest in 2011 to Canadian Imperial Bank of Commerce, which later sold its interest to Nomura Holdings in 2015. Nomura's resulting position represented a minority voting stake rather than control. American Century's investment proposition centers on active and systematic management, research-driven portfolio construction, and a long-term orientation. In 2019, it launched Avantis Investors as a separate investment platform focused on systematic, factor-based strategies. Avantis subsequently broadened the firm's exchange-traded-fund and international offering, including European UCITS products. The company has also maintained a public-facing presence through sponsorship of the American Century Championship celebrity golf tournament, held annually at Edgewood Tahoe Resort since 1999. The firm has faced regulatory and employment-related scrutiny. It paid a settlement to current and former employees after the United States Department of Justice concluded that it had participated in an agreement with another company not to compete for employees. In 2021, during the COVID-19 pandemic, American Century announced a policy requiring employees to receive a vaccine. These matters sit alongside the company's main identity as a private, independent investment manager whose ownership supports the Stowers Institute for Medical Research.

American Century Investments began in Kansas City in 1958 as Twentieth Century Mutual Funds, founded by James E. Stowers Jr. The initial business was built around no-load mutual funds and was deliberately oriented toward small investors. It started with approximately $100,000 in assets and 24 shareholders, then grew by concentrating on accessible pooled investment products and professional portfolio management. Over subsequent decades, the firm expanded its investment capabilities and distribution beyond its original mutual-fund operation. The company changed its name to American Century Investments in 1997, reflecting a broader corporate and investment identity. Its headquarters developed near Kansas City's Country Club Plaza, at the American Century Towers complex, while additional offices were established in New York, London, Hong Kong, and Sydney. American Century's ownership evolved while remaining privately controlled. JPMorgan Chase held a substantial minority interest before selling a 41% stake to Canadian Imperial Bank of Commerce in 2011. CIBC later sold that interest to Nomura Holdings in 2015 for a reported amount of approximately $1 billion; Nomura's position represented about 10.1% of voting rights and did not provide control. The Stowers Institute for Medical Research retained the controlling majority. Dividends from American Century have provided significant support to the institute, which funds biomedical research. The firm's business has included mutual funds, exchange-traded funds, separately managed accounts, institutional portfolios, and strategies across equities and fixed income. In 2019, American Century launched Avantis Investors to develop systematic, factor-based investment strategies. Avantis expanded the firm's presence in the ETF market and later developed European UCITS products listed on exchanges including the London Stock Exchange and Deutsche Börse. American Century has also used sponsorship and public engagement to build brand visibility. Since 1999, it has sponsored the American Century Championship, an annual celebrity golf tournament held at Edgewood Tahoe Resort in July. A fantasy golf contest was added in 2021. The company has experienced several notable governance and policy events. The United States Department of Justice determined that American Century had violated antitrust rules through an agreement with another company not to compete for employees, leading to a $1.5 million settlement with current and former employees. In August 2021, the company announced a COVID-19 vaccination requirement for employees. These events occurred alongside continued development of its private, research-oriented investment-management model.

1. 2021COVID-19 vaccination policy announced

   The company announces an employee vaccine mandate during the COVID-19 pandemic.

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2. 2019Avantis Investors is launched

   American Century introduces a dedicated platform for systematic, factor-based strategies.

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3. 2015Nomura acquires CIBC's interest

   Nomura Holdings purchases CIBC's minority position, while the Stowers Institute remains the controlling shareholder.

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4. 2011CIBC acquires JPMorgan Chase's stake

   CIBC purchases a 41% interest in American Century Investments from JPMorgan Chase.

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5. 1999American Century Championship sponsorship begins

   American Century becomes sponsor of the annual celebrity golf tournament at Lake Tahoe.

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6. 1997Corporate name becomes American Century Investments

   The company adopts its current name as it broadens its identity beyond its original Twentieth Century mutual-fund brand.

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7. 1958Twentieth Century Mutual Funds is founded

   James E. Stowers Jr. establishes the Kansas City mutual-fund business with approximately $100,000 in assets and 24 shareholders.

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Independent investment manager focused on research-led active management, systematic investing, equity and fixed-income strategies, and long-term investor outcomes.

• American Century mutual fundsMutual funds1958

  The firm's foundational offering consists of pooled investment funds covering equity, fixed-income, asset-allocation, and other portfolio mandates. The business originated as a no-load mutual-fund provider aimed at individual investors and later expanded its range for intermediary, retirement, and institutional distribution.

• American Century exchange-traded fundsExchange-traded funds

  American Century offers exchange-traded investment vehicles providing exposure to selected equity, fixed-income, and other portfolio strategies. ETFs extend the firm's investment capabilities into a listed format that can be traded during market hours and used by both individual and professional investors.

• Separately managed accountsManaged accounts

  Separately managed accounts provide customized portfolio management for investors whose assets are held in individual accounts rather than pooled in a mutual fund or ETF. The firm's managed-account capabilities support tailored mandates across equity, fixed income, and other investment disciplines.

• Avantis InvestorsSystematic and factor-based investment strategies2019

  Avantis Investors is an American Century platform created in 2019 to focus on systematic investment methods. Its approach uses rules-based portfolio construction and factor-oriented research, with products distributed through funds and ETFs in the United States and, later, through European UCITS offerings.

• 1999American Century Championship

  United States

  American Century has sponsored an annual celebrity golf tournament at Edgewood Tahoe Resort since 1999. The event connects the investment-management brand with sports, entertainment, and charitable-publicity audiences.

  Outcome. The tournament became a recurring annual brand property, and a fantasy golf contest was added in 2021.

  Source

• 2021Introduce an employee COVID-19 vaccine mandateOther

  The policy was announced during the COVID-19 pandemic as employers developed workplace health and safety requirements.

  What changed. American Century announced that employees would be required to receive a COVID-19 vaccine.

  Aftermath. The policy became part of the company's pandemic-era workplace response.

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• 2019Launch Avantis InvestorsProduct launch

  Demand for transparent, rules-based, and factor-oriented investment strategies was creating opportunities beyond traditional active mutual funds.

  What changed. American Century created Avantis Investors as a dedicated systematic and factor-based investment platform.

  Aftermath. Avantis expanded into ETFs and later into European UCITS products, broadening the firm's systematic-investing presence.

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• 1997Adopt the American Century Investments nameStrategy

  The original Twentieth Century Mutual Funds identity no longer fully represented the company's wider investment-management activities.

  What changed. The company changed its corporate brand name to American Century Investments.

  Aftermath. The new identity became the umbrella brand for the firm's expanding investment products and international operations.

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• Employee non-compete antitrust settlementControversy

  The United States Department of Justice found that American Century had participated with another company in an agreement not to compete for employees. The matter resulted in a $1.5 million settlement paid to current and former employees.

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• 2021American Century adds a fantasy golf contest to the American Century Championship

  A fantasy golf competition was added to the company's sponsored celebrity golf event.

  Campaign
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• 2021American Century announces a COVID-19 vaccine mandate

  The firm announced that employees would be required to receive a COVID-19 vaccine.

  RegulationOther
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• 2021American Century announces employee COVID-19 vaccine requirement

  The company announced that employees would be required to receive a COVID-19 vaccination.

  RegulationOther
  Source
• 2021Fantasy golf contest added to American Century Championship

  The American Century Championship sponsorship program expanded to include a fantasy-golf contest.

  Campaign
  Source
• 2019American Century launches Avantis Investors

  The firm introduced Avantis Investors as a platform specializing in systematic, factor-based investment strategies.

  Product launch
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• 2015Nomura acquires CIBC's minority interest in American Century

  Nomura Holdings acquired CIBC's interest after CIBC was unable to obtain full control of the investment manager.

  M&A
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• 2015Nomura acquires CIBC's interest in American Century

  Nomura Holdings acquired CIBC's interest after CIBC was unable to obtain control of the privately controlled investment manager.

  M&A
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• 2011JPMorgan Chase sells its American Century stake to CIBC

  JPMorgan Chase sold a 41% interest in American Century Investments to Canadian Imperial Bank of Commerce.

  M&A
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• 2011CIBC acquires a minority interest in American Century

  CIBC purchased J.P. Morgan Chase's 41 percent interest in American Century Investments.

  M&A
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• 1999American Century begins sponsorship of the American Century Championship

  The company became the title sponsor of an annual celebrity golf tournament at Edgewood Tahoe Resort.

  Campaign
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• 1999American Century sponsors the American Century Championship

  The firm began sponsoring the annual American Century Championship celebrity golf tournament at Edgewood Tahoe Resort.

  Campaign
  Source
• 1997American Century changes its name from Twentieth Century Mutual Funds

  The investment manager adopted the American Century Investments name as it developed beyond its original mutual-fund identity.

  Other
  Source
• 1997American Century changes its name from Twentieth Century Investments

  The investment manager adopted the American Century Investments name as its business expanded beyond its earlier Twentieth Century mutual-fund identity.

  Other
  Source

1. American Century Investments
2. American Century Investments official website