American Century Investments said it has expanded its lineup of load funds by starting up a large-cap growth fund.
The American Century Capital Growth Fund seeks long-term capital growth by investing in common stocks of larger companies with strong earnings and revenue growth, the company said on Monday.
Gregory Woodhams, Prescott LeGard and Tim Reynolds head up the funds management team. They also manage the American Century Growth Fund, which has $5.2 billion of assets under management.
The capital-growth portfolio is designed to meet the long-term objectives of investors who are generally aggressive or seeking an investment for asset allocation purposes in a fund benchmarked to the Russell 1000 Growth Index.
The fund will require a minimum investment of $2,500 and be offered in three share classes. The annual management fee is 1% of assets.
With the addition of the capital-growth fund, American Centurys load fund lineup, which was started in February 2003, has 13 portfolios with $278 million of assets under management.
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