American Century Investments announced plans Wednesday to acquire Kopp Investment Advisors' two mutual funds, which have a value of $300 million to $350 million. Terms of the deal were not disclosed. Kopp said it agreed to the sale so that it can focus on its core competency, private account management.
American Century will merge the two Kopp funds, the Kopp Emerging Growth Fund and the Kopp Total Quality Management Fund, into two of its existing funds. The companies plan to complete the acquisition in February.