American Century Investments

Last updated
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
AUM US$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.

Contents

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

Related Research Articles

<span class="mw-page-title-main">Canadian Imperial Bank of Commerce</span> Banking institution

The Canadian Imperial Bank of Commerce is a Canadian multinational banking and financial services corporation headquartered at CIBC Square in the Financial District of Toronto, Ontario. The Canadian Imperial Bank of Commerce was formed through the 1961 merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, in the largest merger between chartered banks in Canadian history. It is one of two "Big Five" banks founded in Toronto, the other being the Toronto-Dominion Bank.

<span class="mw-page-title-main">Neuberger Berman</span> American financial services firm

Neuberger Berman Group LLC is an American private, independent, employee-owned investment management firm. The firm manages equities, fixed income, private equity and hedge fund portfolios for global institutional investors, advisors and high-net-worth individuals.

<span class="mw-page-title-main">Wood Gundy</span> Canadian stock brokerage and investment banking firm

Wood Gundy Inc. was a leading Canadian stock brokerage and investment banking firm. Founded in 1905, it was acquired by the Canadian Imperial Bank of Commerce in 1988 as it attempted to build an investment banking business. The Wood Gundy name was used extensively by the bank's investment banking arm, which was known as CIBC Wood Gundy until 1997. Today, CIBC's investment banking business is known as CIBC World Markets, and the name CIBC Wood Gundy is used as the brand for the bank's retail brokerage business.

<span class="mw-page-title-main">CIBC Capital Markets</span> Investment banking subsidiary of the Canadian Imperial Bank of Commerce

CIBC Capital Markets is the investment banking subsidiary of the Canadian Imperial Bank of Commerce. The firm operates as an investment bank both in Canadian and global equity and debt capital markets. The firm provides a variety of financial services including equity and debt capital market products, mergers and acquisitions, global markets, merchant banking, and other investment banking advisory services.

<span class="mw-page-title-main">Nomura Holdings</span> Financial holding company

Nomura Holdings, Inc. is a financial holding company and a principal member of the Nomura Group, which is Japan's largest investment bank and brokerage group. It, along with its broker-dealer, banking and other financial services subsidiaries, provides investment, financing and related services to individual, institutional, and government customers on a global basis with an emphasis on securities businesses.

<span class="mw-page-title-main">Pacific Cycle</span> American bicycle company

Pacific Cycle, Inc., is an American division of Dutch conglomerate Pon Holdings that imports and distributes bicycles. It was founded in 1977 by Chris Hornung. The company pioneered the sourcing of bicycles from the Far East for distribution in the U.S., developing relationships with suppliers primarily in Taiwan and China. The company now owns several well known bicycle brands as well as diversifying into bicycle accessories and other types of children's play equipment. Pacific Cycle sells more bicycles than any other company in North America and is one of the most prolific bicycle suppliers in the world. In 2006, Chris Hornung left Pacific Cycle leaving President Jeff Frehner in control. Alice Tillett has been the President of Pacific Cycle since 2008.

<span class="mw-page-title-main">The Fresh Market</span> American chain of supermarkets

The Fresh Market is an American chain of supermarkets based in Greensboro, North Carolina.

<span class="mw-page-title-main">Atria Management Company</span> American senior living management company

Atria Management Company, LLC (AMC) is a subsidiary of Atria Senior Living, Inc. (ASL). Along with another subsidiary of ASL, Atria Management Company manages independent living, assisted living, supportive living, and memory care communities in more than 344 locations in 44 U.S. states. In Canada, ASL subsidiary Atria Management Canada, ULC manages 29 Atria Retirement communities in seven Canadian provinces. Collectively, Atria communities are the residence of choice for approximately 40,000 senior adults and the company employs more than 14,000 staff. Atria is based in Louisville, Kentucky.

Mubadala Investment Company PJSC, or simply Mubadala, is a state-owned global investment management holding company that acts as one of the sovereign wealth funds of the government of Abu Dhabi. The company was established in 2017 when then-named Mubadala Development Company and the International Petroleum Investment Company (IPIC) merged. Headquartered in Abu Dhabi, Mubadala also has offices in London, Rio de Janeiro, New York, San Francisco and Beijing.

James E. "Jim" Stowers, Jr. was an American businessman who was the founder of American Century Investments and the Stowers Institute for Medical Research.

The Canada Pension Plan Investment Board, operating as CPP Investments, is a Canadian Crown corporation established by way of the 1997 Canada Pension Plan Investment Board Act to oversee and invest the funds contributed to and held by the Canada Pension Plan (CPP).

Leonard Green & Partners, L.P. (LGP) is an American private equity investment firm founded in 1989 and based in Los Angeles. The firm specializes in private equity investments. LGP has invested in over 95 companies since its inception, including Petco and The Container Store.

The Ontario Municipal Employees Retirement System (OMERS) is a Canadian public pension fund, headquartered in Toronto, Ontario. OMERS is a defined benefit, jointly sponsored, multi-employer public pension plan created in 1962 by Ontario provincial statute to administer retirement benefits and manage pension investment funds of local government employees in the Canadian province of Ontario. As of December 31, 2022, OMERS had C$124 billion of assets under management. OMERS serves over 1,000 participating employers and more than half a million active, deferred and retired employees. OMERS members are employed by municipalities, school boards, transit systems, local electrical distribution companies, police service boards, fire fighting and paramedic services, children's aid societies and associated local agencies, boards and commissions.

<span class="mw-page-title-main">Actis Capital</span> British investment firm focused on the private equity

Actis is a global investment firm focused on the private equity, energy, infrastructure, and real estate asset classes.

<span class="mw-page-title-main">ABS Capital Partners</span> American private equity firm

ABS Capital Partners is an American private equity firm focused on investments in software and tech-enabled services businesses across a range of industries, including FinTech, Healthcare, EdTech, eCommerce, cybersecurity, and Smart Cities. Founded in 1990, the firm is based in Washington, DC, Baltimore, and San Francisco. The company has raised approximately $2.5 billion since its inception across seven funds. ABS Capital Partners is a member of the National Venture Capital Association.

CIBC Mellon is a joint venture founded in 1996 between the Canadian Imperial Bank of Commerce (CIBC) and then Mellon Financial Corporation to offer asset servicing to institutional investors. Based in Toronto, Ontario, Canada, it comprises two sister companies, CIBC Mellon Trust company and CIBC Mellon Global Securities Services Company.

<span class="mw-page-title-main">Confluence (company)</span> Investment management software company

Confluence is a software firm that provides back-office automation systems to the investment management industry. The company was founded in 1991, and aims to lead the "DataTech evolution" with "a vision ... [of] instantaneously transforming data into knowledge and delivering it to the world." According to the company's website, Confluence technology is in use by eight of the top 10 global service providers, and all of the top 10 global asset managers have business processes automated through Confluence.

Creative Planning, LLC is an independent wealth management firm and registered investment advisor majority owned by American financial advisor Peter Mallouk. The firm was founded in 1983, and is headquartered in Overland Park, Kansas. The company provides wealth management services for individuals, businesses and institutions, including investment management, financial planning, estate planning, tax planning, trust services, tax preparation and charitable giving services.

<span class="mw-page-title-main">JAFCO</span> Japanese venture capital firm

JAFCO Group Co., Ltd. is an investment holding company headquartered in the Toranomon district of Minato-ku, Tokyo, Japan. It is listed on the First Section of the Tokyo Stock Exchange. JAFCO is considered to be the oldest as well as largest venture capital company in Japan.

Zymergen was an American biotechnology company based in Emeryville, California. The company applies genomics and machine learning to research and design chemical producing genetically modified organisms. It claimed that its manufacturing process was safer and cheaper than traditional manufacturing, but was unable to demonstrate this. Shortly after going public in 2021, it was reported that the company was facing difficulties in manufacturing and struggling to make revenue. In July 2022, Ginkgo Bioworks agreed to acquire Zymergen for $300 million.

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.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.