On the other hand, if you’re an investor in American Century mutual funds, you now have a good idea where your management fees and expense ratios go.
Lance Armstrong has become the company’s celebrity spokesperson, and American Century’s bright marketing team will link the athlete’s struggle with cancer to “investing discipline.”
American Century’s Equity Index Fund (ACIVX) has an expense ratio of 0.49% compared to Vanguard’s 0.19% (VTSMX).
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{ 3 comments… read them below or add one }
Lance Armstrong is a terrific fit as a spokesperson for ACI. Jim Stowers, the founder and owner of American Century, and his wife are both cancer survivors. They have founded The Stowers Institute in Kansas City which is one of the world’s premiere cancer research facilities. Don’t be too quick to criticize. Much of ACI’s profits go to a very worthwhile cause.
It does help “ease the pain” to know that a portion of corporate profits is being donated to a cause, and the fighting of cancer is a great cause. Thanks for bringing that to my attention.
This article sheds a whole lot more light on the topic that the CNN article I linked to above.
Personally, I’d prefer to pay lower management fees and direct my savings towards a worthwhile cause I select, but it’s good to see some good being done.
As a native Kansas Citian, I have first-hand knowledge of the good work Jim Stowers has done. While with Morgan Stanley, my office was across the street from the American Century towers and I would see Jim at lunchtime often. Also, my wife was a vice president with ACI, so we saw the Stowers socially from time to time.